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New Zealand Technical Levels

Posted by Joseph Trevisani on Feb 13, 2013 5:22:00 PM



Spikes Above Upper Bollinger Expected

Resistance 4: 0.8843 - 2011 high August 1 2011
Resistance 3: 0.8568 - Monthly high August 31 2011
Resistance 2: 0.8487 - High February 1
Resistance 1: 0.8461 - 21 day upper Bollinger band

LATEST PRICE: 0.8456

Support 1: 0.8390 - 21 day moving average
Support 2: 0.8281 - Weekly low Jan 28
Support 3: 0.8265 - Ichimoku cloud base
Support 4: 0.8215 - Low January 4

COMMENTARY: The Kiwi continues to work its way towards the February monthly high with
the 21 day upper Bollinger band now heading higher and hinting that the topside
move has further to run. We now look for spikes above the upper Bollinger to recommence. Back below the 21-day-moving average (0.8391) is needed to end the current topside focus and see the 0.8265-81 support region targeted once more.

 

MNI & WWM

 

Chart Bloombergnzd resized 600

 

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