New Zealand Dollar May Trade to $0.8050
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Trade Implications – NZDUSD: Last week we wrote that we favor short positions until we see the NZDUSD rally above $0.8514. And indeed, little has changed in sentiment or our near-term trading bias. A break below multi-month lows of $0.8310 opens up a move towards the year-to-date bottom of $0.8050.
See next currency section:EURUSD - Euro Remains a Sell Until this Changes
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.