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NZD/USD: upside won’t be easy

NZD/USD: upside won’t be easy

Information is not investment advice

NZD/USD has been trading in a very volatile fashion recently. The latest development has been that the pair met resistance in the vicinity of 0.67. The pair failed to fix above the declining 100-day MA that had gone below the 200-day MA in June. There’s also resistance in the form of the 50% Fibo retracement of the March-May decline. Only an advance above 0.6710 will allow bulls to fight back. 

NZDUSD 12 07.png

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The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.

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