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NZD/USD at Fresh Highs For the Year Following Technical Break
NZD/USD pushed higher as the Dollar retreated, the pair broke above a declining trendline from August 10 highs, briefly trading at new highs for 2016. The technical break sets a bullish tone for the pair, while the Dollar has been met with support, causing the exchange rate to consolidate near highs. NZD/USD has been struggling to make a sustained break above the 0.7300 handle since the RBNZ rate cut earlier this month. The bullish break now shows the pair closing above the critical resistance on a 4-hour basis. The US Dollar index (DXY) started the week off strong with a gap higher and a steady appreciation in Asian ... (full story)