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GBPNZD Retests 2.0850 after Breaking Wedge Resistance
Yesterday’s RBNZ statement caused quite the stir in the New Zealand dollar, sending the currency higher by more than 100 pips against the greenback. Naturally, this sent NZD crosses such as the GBPNZD lower by several hundred pips in the blink of an eye. But for those who saw my recent weekly forecast and are looking to buy the pair in the coming sessions, these discounted prices are a good thing. It offers us the chance to watch for a buying opportunity from the previously mentioned 2.0850 handle. In case you missed it, here is the falling wedge that began last September. That opportunity may take a couple of ... (full story)