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Will NZD/USD Daily Support Hold for Longs?
A clear as day NZD/USD support level to end a busy week for us here in the Vantage FX office. We had been shorting NZD/USD off this major resistance level, but the question now has to be asked whether the shorts will run out of steam own here. You don’t really get much clearer daily levels than this, with each touch followed by big rejections in both directions. Interestingly enough, you can see the time that the level was broken right in the middle of that chart, price absolutely hammered through it without even the hint of a pullback. Levels are there to be broken and just because they have been broken before, ... (full story)