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Sunday, 22 November 2009 GMT
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Trend of the Day: NZD/USD
Friday, 24 October 2008 09:19:35 GMT
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Our trend for today is the Kiwi Dollar (NZDUSD)
We look for a continuation of the down trend upon a break out from a sideways rectangle consolidation. The dramatic 100 basis point interest rate cut by the New Zealand central bank should drive NZDUSD lower as the interest rate differential between the US and NZ has been narrowed. Look for a closed, full bodied daily candle below the .5779 level before entry.
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