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NZD/USD: pair consolidating above Moving Averages

NZD/USD: pair consolidating above Moving Averages

Information is not investment advice

The market is consolidating above the Moving Averages. Also, there's a local 'V-Bottom' pattern, so the pair is likely going to achieve the previously tested resistance at 0.6886 - 0.6902, which stopped bulls many times before. Thus, another pullback from this area could be a departure point for a downward correction in the direction of the Moving Averages.




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