NZD/USD Classical Technical Report 05.27
NZD/USD:Remains very well bid with the market breaking to fresh yearly and multi-year highs above 0.8120 to challenge the near 30-year highs over 0.8200. Daily studies are starting to look stretched, but a break back below 0.7960 will be required at a minimum to relieve immediate topside pressures. A daily close above 0.8200 however, will open the door for yet another major upside extension towards next key psychological barriers by 0.8500 further up.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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