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NZDUSD consolidates recent gains; negative risks present
NZDUSD’s positive picture appears to withstand negative pressures, glued just under the 50- and 100-period simple moving averages (SMAs) and holding just inside the Ichimoku cloud. The pair has adopted a horizontal tone over the last weeks, something also mirrored in the unclear Ichimoku lines and the mostly horizontal state of the Ichimoku cloud. Presently above the 0.6380 level, the predominant bearing is positive, something also reflected within the 100- and 200-period SMAs in spite of the failing and lagging 50-day SMA. That said, the very short-term picture is leaning towards the downside due to the price’s ... (full story)