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NZD/USD sellers observe immediate rising wedge amid bearish MACD
The NZD/USD pair’s declines below 23.6% Fibonacci retracement pushes sellers to look for confirmation of the bearish chart pattern as the quote seesaws near 0.6410 during early Thursday. Not only the support line of nearly seven-day-old rising wedge formation but 38.2% Fibonacci retracement of October-November upside also increases the importance of 0.6380 as the key rest-point. With the 12-bar Moving Average Convergence and Divergence (MACD) flashing bearish signals, odds are high for the pair’s slip beneath 0.6380, which in turn will open the door for extend south-run towards October 16 low of 0.6240. Though, ... (full story)