NZD/USD Classical 07.13
NZD/USD: Although rallies have extended back towards the multi-day range highs in the 0.7100’s, we do not expect the strength to continue and instead favor the prospects for a bearish reversal. Daily studies are starting to look a little stretched and only a close back above 0.7200 would ultimately give reason for concern. Back below 0.7055 however will confirm outlook and should accelerate declines.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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