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Tuesday, July 30, 2013

NZD/USD TECHNICAL ANALYSIS





NZD/USD had shown a month uptrend for July and it began its downtrend from this week open. USD tried to retrieve from this bearish trend. As NZD and USD are parity over one another, it often changes its trend. From yesterday onwards, it has been showing its strong sell. 

The USD is not only dominating NZD, it is dominating against most of its peers. The EUR/NZD pair also began its uptrend after a week downtrend. So, it is recommended to sell NZD against all its pairs. On today, the NZD/USD begins with the tremendous sell by the NZD depreciation. 

After a notable trend, the pair reached its high resistance of 0.80988 and this strong sell try to locate its support. This trend remains continuous until it finds the well support of 0.79068. 

It is highly believed by the subsequent economic releases of USD. Before reaching the good support, it is predicted to cross the two support points of 0.79640 and 0.79372.

For more:
http://fxbase.com/newsroom/dollar-rises-versus-most-peers-before-fed-meeting-yen-gains/ 

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