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NZD/USD

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Publish Date29/11/2012 12:34:23 PM

Last Update29/11/2012 12:46:59 PM


Midday Report

NZD

The pair approached the key resistance level then slightly dropped as provided on the chart, however we find it stable above the neckline of the inverted Head and Shoulders Pattern. This contradiction between failing to breach resistance level and stability above the suggested neckline makes us remain neutral . It should be noted that breaching the suggested 0.8285 may trigger another upside move.

The trading range for today is expected among the key support at 0.8185 and resistance at 0.8355 .

The short term trend is to the upside targeting 0.8400 with steady daily closing above 0.7930.

Previous Report

Weekly Report

Support0.82300.82050.81850.81550.8135
Resistance0.82550.82850.83050.83550.8385
RecommendationBased on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move


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