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NZDUSD Below Ichimoku – Fails to Break Fibonacci Resistance
While Invest Diva groupies enjoyed earning some pips on short-term NZDUSD gains on Tuesday, the bulls weren't able to change the fate of NZDUSD below Ichimoku. With all the OPEC craze and emotional markets, let's take an IDDA approach to develop a trading strategy for Mr. Kiwi as he dances against Ms. USA on the forex dance floor.Daily Chart: After continuous gains for almost a year, NZDUSD broke below the Ichimoku cloud in October and confirmed the break in November. With the cloud turning down, the pair seems to now be stuck between the 23% and 38% Fibonacci retracement levels at 0.7177 and 0.70 respectively. These ... (full story)