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NZD/USD Forecast October 27, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 03:00 UTC

The NZD/USD pair rose slightly during the course of the session on Friday, breaking above the top of the hammer that had formed on Thursday. With this, we

NZD/USD Forecast October 27, 2014, Technical Analysis

The NZD/USD pair rose slightly during the course of the session on Friday, breaking above the top of the hammer that had formed on Thursday. With this, we could go as high as 0.80, but ultimately we believe that this market will find enough selling pressure to start falling yet again. Remember, the Royal Bank of New Zealand continues to wish for a week or Kiwi dollar, and the fact that they have entered the spot market to sell off the New Zealand dollar tells us that this pair should continue to go much lower. 

 

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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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