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  • Gold prices proved to be the ‘canary in the coal mine’ around the Federal Reserve meeting. Gold’s weakness hinted at a more hawkish Fed, which yielded a stronger US Dollar. Get your $XAUUSD market update from @CVecchioFX here:https://t.co/jnSIZ4YueV https://t.co/GJiFYmJULz
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NZD/USD Classical Technical Report 01.16

NZD/USD Classical Technical Report 01.16

Joel Kruger, Technical Strategist
Daily_Classical_NZDUSD_body_nzd2.png, NZD/USD Classical Technical Report 01.16

NZD/USD: Any rallies are classified as corrective and we continue to see this market in the process of carving out a major longer-term top. From here, we look for the formation of the next major lower top somewhere around 0.8000 ahead of a fresh downside extension. Look for a break and close back under 0.7770 to help confirm bias and accelerate declines.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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