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Long NZDUSD

Long NZDUSD

Jamie Saettele, CMT, Sr. Technical Strategist

Despite recent carnage in the commodity sector, the NZDUSD low from 8/24 remains intact. In fact, the rate is going to make an inside month and the month's range is the smallest since August 2014. Like dojis, narrow range bars (NR) indicate indecision and are useful reference points. Even if this is just consolidation before another move lower, risk is well-defined. I do think that the move is higher though.

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