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NZD/USD Battle Between the 200 Day Average and December High

NZD/USD Battle Between the 200 Day Average and 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 held the 200 day average but strength continues to fail at the December (FOMC) high now (.7238). In fact, 3 of the last 4 days have been within 10 pips of .7238 and last week’s high was .7242. Ideally, a break of the .7140-.7240 zone produces the next directional move although I’d still be aware of .7300 as resistance on a break higher.

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