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New Zealand Dollar Technical Analysis

Posted by Joseph Trevisani on Mar 20, 2013 6:03:00 PM


Continues To Struggle On Rallies

Resistance 4: 0.8416 - High February 25
Resistance 3: 0.8351 - High February 26
Resistance 2: 0.8322 - Ichimoku Cloud Base
Resistance 1: 0.8292 - High March 8

PRICE: 0.8258

Support 1: 0.8157 - Low December 26
Support 2: 0.8124 - 100 week moving average
Support 3: 0.8056 - Monthly low November 16
Support 4: 0.7917 - Monthly low September 5

COMMENTARY: The Kiwi continues to fail ahead of initial resistance and is also
finding support ahead of the 200-day moving average. We continue to look for a close below the December 26 lows to confirm another break of the 200-day moving average and see immediate focus turn to retests of the November monthly lows and then the September monthly lows beneath. Topside a close back above the March 8 highs is needed to see focus turn to retests of the February 25 resistance level.

Market News International

Chart: Bloomberg

ScreenHunter 825 Mar. 20 18.16 resized 600

 

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