Strategy: Pending Short
NZDUSD completed a bullish Three Inside Up candlestick pattern above the 0.75 figure and moved higher to challenge resistance at 0.7728, the 23.6% Fibonacci retracement level.A break above this boundary exposes the 38.2% level at 0.7889. We remain broadly bearish and will look for the move higher to yield a selling opportunity in the days ahead.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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