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NZD/USD Technical Strategy: FlatSupport: 0.7787, 0.7624, 0.7533Resistance:0.7930, 0.8076, 0.8221 The New Zealand Dollar launched sharply higher against its US namesake following the RBNZ monetary policy announcement. A daily close above the 0.7897-0.7930area marked by the 23.6% Fibonacci retracement and a falling channel top exposes the 38.2% level at 0.8076. Alternatively, a reversal below the 14.6% Fib at 0.7787 opens the door for a test of the channel floor at 0.7624. ...
US DOLLAR TECHNICAL ANALYSIS – Prices turned lower from a five-year high as expected after completing a bearish Evening Star candlestick pattern. Near-term support is at 11379, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 38.2% level at 11291. Alternatively, a reversal above the 14.6% Fib at 11434 clears the way for a test December 8 high at 11522 ...
US DOLLAR TECHNICAL ANALYSIS – Prices may be preparing for a pullback having put in a bearish Evening Star candlestick pattern below a five-year high. A daily close below the 14.6% Fibonacci retracement at 11434 exposes the 23.6% level at 11379. Alternatively, a turn above the 23.6% Fib expansion at 11528 opens the door for a challenge of the 38.2% threshold at 11616. ...
Talking Points: EUR/GBP Technical Strategy: FlatSupport: 0.7809, 0.7751, 0.7662Resistance: 0.7899, 0.7954, 0.8033 The Euro may rise against the British Pound following the appearance of a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci expansionat 0.7899 exposes support-turned-resistance at 0.7954. Alternatively, a turn below the 23.6% level at 0.7809 opens the door for a challenge of the 0.7751-65 area marked by the July 23 2012 and ...
US DOLLAR TECHNICAL ANALYSIS – Prices paused to consolidate after producing the largest daily rally in five weeks. Near-term resistance is at 11511, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 11565. Alternatively, a reversal below the 38.2% Fib at 11457 clears the way for a test of the 23.6% expansion at 11391. ...
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