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New Zealand Dollar Technical Analysis

Posted by Joseph Trevisani on Mar 19, 2013 6:25:00 PM

Immediate Focus Remains Lower

RES 4: $0.8416 - High Feb 25
RES 3: $0.8351 - High Feb 26
RES 2: $0.8322 - Ichimoku Cloud Base
RES 1: $0.8292 - High Mar 8

PRICE: 0.8244 at 6:25 ET

SUP 1: $0.8157 - Low Dec 26
SUP 2: $0.8124 - 100 week moving average
SUP 3: $0.8056 - Monthly low Nov 16
SUP 4: $0.7917 - Monthly low Sept 5

COMMENTARY: The Kiwi continues to fail ahead of initial resistance and while
this is the case immediate focus remains on dips back towards the Dec 26 lows at
$0.8157 with the 21 day lower Bollinger band also noted around this level today.
Spikes below the lower Bollinger are expected to resume while the initial
resistance remains in play although it should be noted that closes below are
somewhat rare.


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