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NZD/USD attempting to break bullish trend
The NZD/USD is attempting to take out a bullish trend line that has been in place since February. The Kiwi has weakened quite sharply in recent days after the RBNZ intervened verbally against the currency’s appreciation and delivered what appears to be the last rate hike for a long time on Wednesday. If the NZD/USD closes the session below the trend line (0.8550) then we could see significant falls next week as more buyers rush for the exits. The next support level is 0.8450 which ties in with the 200-day moving average and a separate, longer-term, bullish trend line. Beyond that is the 0.8400 handle which was ... (full story)