Time turns trend. - W.D. Gann
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Euro tests trend-line as kiwi looks to break back
The euro has seen significant upside price action against the New Zealand dollar throughout May and June. However, signs are now pointing towards either a significant trend-line break to the downside or else an imminent move to the upside to maintain the trend. The daily chart below shows the key trend-line which has been respected for over two months in the EURNZD pair. The price action has rejected all attempts to break below this support on a number of occasions. However, signs are pointing to potential weakness in the upside momentum of this pair. Taking a look at the RSI indicator, there was a clear bearish ... (full story)