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NZDUSD corrects lower but 200-day SMA curbs retreat
video NZDUSD had been staging a solid rebound from its 2023 low of 0.5772, peaking at a fresh four-month high of 0.6221 in early December. Since then, the pair retraced lower, with the 200-day simple moving average (SMA) preventing further declines. Should the price break below the crucial 200-day SMA, immediate support could be met at 0.6064, which is the 38.2% Fibonacci retracement of the 0.6536-0.5772 downtrend. Violating that hurdle, the pair could then descend towards the 23.6% Fibo of 0.5952. A violation of that region could pave the way for the September low of 0.5858. Alternatively, if the pair attempts to ... (full story)