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Strategy: Flat
NZDUSD is testing resistance at 0.8241, the late-October swing high reinforced by the top of a rising channel set from mid-December. Overbought RSI readings warn that the threat of a reversal lower is rising but price action is offering no tangible bearish signal, so we will stand aside for now until something more actionable presents itself. Near-term support lines up at 0.8108.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak
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