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NZD/USD forecast for the week of September 26, 2016, Technical Analysis
Published: Sep 24, 2016, 04:36 GMT+00:00
The New Zealand dollar initially tried to rally during the course the week, but turned back around form a fairly negative candle. By doing so, it looks as
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The New Zealand dollar initially tried to rally during the course the week, but turned back around form a fairly negative candle. By doing so, it looks as if we are going to test the 0.70 level below, which should be supportive. But a break down below there we should send this market much lower, perhaps reaching towards the 0.70 level. Any rally at this point in time I think will struggle, as the market looks very tight to see the very least and obviously we have a massive resistance barrier at the 0.75 handle.
About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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