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New Zealand Dollar Shrugs Off USD Advance

By Sam Shenker
09 June 2005 05:36 GMT

A move above will most likely be capped at .7350 thus establishing a double top resistance. Indicators point to a slowing trend with ADX (DMI) falling to 22.58. The daily Stochastic is neutral at 66.11 with 4-hour chart Stochastic also neutral at 68.78. RSI is neutral at 51.08 on the daily chart as well as on the dealer (4HR) chart at 61.00. MACD has made a bullish crossover below the zero line on the daily chart and has climbed above the zero line on the 4-hour chart. In case the NZD bulls fail to breach the .7200 figure and fall back, the next level they will most likely find some support will be .6950.

 

Key Levels

 

Level

Resistance

Details

.7251

Major

May 10 spike low

.7213

Intermediate

61.8 Fib of the .7377-.6950 USD rally

.7193

Minor

May 13 daily spike high

Level

Support

Details

.7088

Minor

20-day SMA

.7050

Intermediate

23.6 Fib of the .7377-.6950 USD rally

.7016

Major

June 6 daily low

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09 June 2005 05:36 GMT