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NZD/USD Slides Into Support - Key Levels to Know for NFP
Kiwi broke below confluence support today at 7180/88- this region is defined by the 50% retracement of the May advance & the 200-day moving average and converges on the median-line extending off the March lows. The decline is now testing interim support at the 200-day moving average / February lows at 7130 with more significant support seen at 7100. Interim resistance now stands back at 7188. Keep in mind an objective measured move of the head and shoulders formation break eyed longer-term targets into the 6830/60key support. A closer look at price action highlights a descending channel formation extending off July ... (full story)