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New Zealand Dollar Technical Analysis

Posted by Joseph Trevisani on Feb 5, 2013 6:49:00 PM



Hesitating Topside
 

RES 4: $0.8840 - 2011 High Aug 1 2011
RES 3: $0.8568 - Monthly high Aug 31 2011
RES 2: $0.8487 - High Feb 1
RES 1: $0.8470 - 21 day upper Bollinger band

LATEST PRICE: 0.8446

SUP 1: $0.8397 - 21 day moving average
SUP 2: $0.8293 - Low Jan 30
SUP 3: $0.8281 - Low Jan 28
SUP 4: $0.8273 - 100 day moving average

COMMENTARY: The 21-DMA remains initial support for the Kiwi with a close back below needed to relieve the hopes for continued spikes above the upper 21 day Bollinger band on its way to retesting Aug 2011 monthly highs. The lower daily lows and highs following the Feb 1 spike higher are of some concern but below the 21-DMA is needed to confirm a shift in focus back to the Jan 28 low.

 

MNI & WWM

Bloomberg

 

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