Feb 14, 2013
Forex: NZD/USD breaks 0.8480 resistance; 0.85 is next
After the break-up of a pennant pattern, the NZD/USD has found enough follow through to now be breaking the 0.8480 resistance - Feb 4 high - as it seeks to kiss the round number at 0.85. A break above, exposes next resistance area at 0.8565/70 - Aug 2011 high - ahead of 0.86. On the downside, sequence of steady bids between 0.8450 up to 0.8480 should be noted. The recent rise comes after today's positive data in both manufacturing and consumer confidence.