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New Zealand Dollar Expected to Continue Lower

New Zealand Dollar Expected to Continue Lower

David Rodriguez, Head of Product

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NEW: View Real-Time SSI Updates via the FXCM Trading Station Desktop

NZDUSD – Retail forex trading crowds remain aggressively long the New Zealand Dollar versus the US Dollar and have remained so since the NZD/USD traded below $0.7600 in May. As long as ‘the crowd’ continues to buy, we’ll remain in favor of selling into declines. Our technical focus remains on major lows closer to the $0.6500 mark.

See next currency section: XAUUSD - Gold Prices Look like a Buy versus US Dollar

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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