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NZD/USD Forecast October 3, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 24, 2015, 22:00 UTC

The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support below in order to bounce and form a hammer. This hammer

NZD/USD Forecast October 3, 2014, Technical Analysis

The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support below in order to bounce and form a hammer. This hammer suggests that we are going to go higher, and quite frankly we feel that the market will struggle to get above the 0.80 level, which we see significant resistance above. With that, we are looking for some type of resistant candle in that general vicinity to start selling, but at the moment we are looking to stay out of the market as we have no interest in buying.

 

NZD USD

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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