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NZDUSD plummets below 50-day SMA
video NZDUSD had been in a steep uptrend since its 2023 low of 0.5772, generating consecutive higher highs. However, the advance stalled around the 78.6% Fibonacci retracement of the 0.6536-0.5772 downleg, with the pair experiencing a strong pullback. If bearish pressures persist and the price crosses below the 200-day simple moving average (SMA), immediate support could be met at the 38.2% Fibo of 0.6064. Dipping beneath that zone, the pair may test the 23.6% Fibo of 0.5952. A violation of that region could pave the way for the September low of 0.5858, which also held its ground in November. On the flipside, should ... (full story)