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NZD/USD 200 Day Avg Bounce Faces Test at December High

NZD/USD 200 Day Avg Bounce Faces Test at December High

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Since dropping sharply from well-defined resistance, Kiwi has bounced although from above the level I had as support (.7100…the 55 and 200 day averages cluster just above the figure as do several pivot lows in recent months). The rebound contends with resistance from the December (FOMC) high now (.7238). In the event of continued strength, pay attention to .7300/10 (closing high level and February open).

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