NZD/USD: We have seen a notable shift in the trend over the past several weeks, with the market stalling out by 0.7635 back in October and reversing to put in a series of consecutive lower tops and lower lows since. The most recent lower top looks now to be in place by 0.7320, and we look for the latest rebound to stall out ahead of this level in favor of a resumption of the newly established downtrend.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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