Forex Technical Update

NZD/USD 4H chart 1/31/2013

(click link to see chart)
http://screencast.com/t/8RFd5U5MNz

Resistance Ahead: The arrows in the screenshot above are NOT predictions, but to highlight a possibility of the current rally hitting resistance. There is a triangle resistance as well as a zone of resistance. IT should be noted however that there is a slight bullish bias, though the momentum has really flattened since December 2012.

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes – provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

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