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NZD/USD Forecast February 23, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 23, 2017, 05:13 UTC

The NZD/USD pair went back and forth during the day on Tuesday, as we continue to test support just below at the 0.7150 level. A break above the top of

NZD/USD daily chart, February 23, 2017

The NZD/USD pair went back and forth during the day on Tuesday, as we continue to test support just below at the 0.7150 level. A break above the top of the hammer from the session on Tuesday should send this market higher, perhaps reaching towards the 0.7250 level above. Because of this, I am bullish and I believe that if you see some strength in most of the commodity markets, and general the New Zealand dollar should follow. I have no interest in shorting, we have found quite a bit of support below the 50% Fibonacci retracement level.

NZD/USD Video 23.2.17

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About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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