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NZD/USD – Respect for the 55 Day Average

NZD/USD – Respect for the 55 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

- NZD/USD has followed through on the ‘constructive bias’ and there is no reason to suggest that NZD/USD is a bear for anything other than a pause. With former highs nearby, that pause may take place soon. Previous comments remain valid; “the impulsive nature of the advance from the 10/13 low suggests that the broader trend is still higher. Weakness below the January-May trendline is needed in order to eliminate a constructive bias.”

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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