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NZDUSD Weekly Bullish Pin Bar Points to Higher Prices
NZDUSD buyers were determined to close the pair above 0.6700 this week. As a result, the pair has carved a bullish pin bar on the weekly time frame. This will likely trigger a move higher next week. Not only has 0.6700 been a key factor for NZDUSD since July of last year, but it’s also the 50% retracement of the recent move higher that began in October 2018. It’s no surprise then that buyers are eager to hold the line at 0.6700. This week’s pin bar is also a bullish engulfing range. It’s largely a result of last week’s small holiday range, but it is another bullish factor nonetheless. As for key resistance ... (full story)
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