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As we speak is the seventh consecutive day of declines in NZD/USD.
Even with a greater temper in markets as we speak, the pair is down 40 pips to 0.6542. Yesterday it was largely a broadly robust US greenback pushing the pair down however the kiwi is uniquely gentle as we speak, together with the Australian greenback.
The weekly NZD/USD chart is ugly. This week it broke by way of the help from the This fall lows and has continued to fall. There may be some minor help round 0.6500 so we might see a bounce right here.
Total although this is not a fairly image and it would not bode properly for the broad threat commerce.
Even worse is likely to be NZD/JPY, the place it appears to be like a head-and-shoulders sample
The vital degree right here is 74.54, which appears just like the final line of protection.
On the basic facet, I do not share the bearishness of those charts however they don’t seem to be fairly.
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