Talking Points:
- NZD/USD Technical Strategy:Short at 0.7783
- Support: 0.7275, 0.7130, 0.6951
- Resistance:0.7420, 0.7519, 0.7599
The New Zealand Dollar fell against its US namesake as expected,
with sellers now eyeing support below the 0.73 figure. A daily close
below the 50% Fibonacci expansion at 0.7275 exposes the 61.8% level at
0.7130. Alternatively, a move above the 38.2% Fib at 0.7420 opens the
door for a challenge of channel floor support-turned-resistance at
0.7519.
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