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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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New Zealand Dollar Remains Above .7000
By Sam Shenker
New Zealand dollar bulls remained undeterred as they kept the pair above the psychologically important .7000 handle. As New Zealand dollar longs manage to push tier way above the .7000 figure, a further move to the upside will most likely see Kiwi bulls lose their footing as the pair will most likely bounce off the .7075, a US dollar defensive position established by the 50.0 Fib of the .7498-.6681 USD rally. A reversal will most likely see the pair tumble below the .7000 figure and head toward the Kiwi’s defenses around .6868, a 23.6 Fib of the .7498-.6681 USD rally Indicators are supportive of the New Zealand dollar longs with both momentum indicator and MACD treading above the zero line, while neutral oscillator give either side enough room to maneuver.
- Oct, 17 00:12 GMT Euro Near Major Top Against US Dollar, but Timing Anything but Clear
- Oct, 17 00:01 GMT British Pound Looks to 3Q GDP to Keep the Bullish Momentum
- Oct, 17 00:01 GMT Japanese Yen Relinquishes its Top Safe Haven Status to the Dollar
- Oct, 16 23:40 GMT US Dollar May Be Setting Stage for Advance
- Oct, 16 23:39 GMT Canadian Dollar May Come Under Pressure Ahead of BOC Decision
- Oct, 24 09:14 GMT New Zealand Dollar Tests Offers Above .7000
- Oct, 21 22:16 GMT Weekly Oulook: Will RBNZ Push Record Rate To 7.00%?
- Oct, 21 09:59 GMT Kiwi Hovers Above .7000 Handle
- Oct, 20 09:58 GMT New Zealand Dollar Remains In Tight Range
- Oct, 19 11:08 GMT New Zealand Dollar Continues To Tread Water
