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Fading Off Key Resistance

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FOREX: To clarify, after GBPNZD tested the water below trend line support from
the Dec 12 low on Friday (see MNI ANALYSIS: GBPNZD Challenging Trendline Support
e-mail at 12:30 GMT 02/01), the rate ultimately closed back above the key
support. Key trendline support moves to NZ$1.8909 today. Failure to make a
convincing break could see a short-term recovery towards the 38.2% retracement
level at NZ$1.9020.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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