By Ilya Spivak, Currency Strategist 29 March 2013 07:52 GMT 
NZD/USD Technical Analysis– Prices put in a bearish Dark Cloud Cover candlestick pattern below resistance at 0.8391, marked by the 61.8% Fibonacci retracement and sitting in close proximity to the upside objective implied by an inverted Head and Shoulders pattern completed last week (0.8401). The setup hints a move lower may be ahead. Near-term support is at 0.8347, the 50% Fib, with a drop below that targeting the 38.2% level at 0.8303. Alternatively, a push above resistance aims for the 76.4% retracement at 0.8445.
Daily Chart - Created Using FXCM Marketscope 2.0 --- Written by Ilya Spivak, Currency Strategist for Dailyfx.com To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak To be added to Ilya's e-mail distribution list, please CLICK HERE New to FX? Watch this Video. For live market updates, visit the Real Time News Feed DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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