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New Zealand Dollar / US Dollar 03-05

New Zealand Dollar / US Dollar 03-05

2010-03-05 15:32:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

nzdusd0305 

The NZDUSD has lagged the AUDUSD and as more time passes, it becomes more probably that the rally from 6804 is complete.  Favor the downside against 7022.  A move above there would probably give way to strength above 7088 and a test of 7156.  It is worth noting that a break of 6800 would places the NZDUSD at its lowest since September 2009 and signal a breakout.  Focus would then be on 6600.   
 
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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