New Zealand Dollar Support at 7650
Prepared by Jamie Saettele, CMT
The NZDUSD advance has stalled at what was support in early November. After breaking its trendline that extends off of the 2010 and 2011 lows as well as the October low, the Kiwi has roared back and is approaching resistance from the confluence of the 13 and 52 week averages (7868-7912). Additional resistance would be the trendline that defines the decline since August closer to 8000. Support is now 7650.
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