New Zealand Dollar Breaks to February Low
Prepared by Jamie Saettele
As mentioned in recent days “a move above 7812 would not alter the bearish structure from 7973. In fact, a rally could complete the final leg of a corrective advance from 7342. In the event of a push above 7812, potential resistance would be 7835 and 7872.” After slightly exceeding 7812 in what may prove to be a bull trap, the NZDUSD has reversed. Focus is on 7524.
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