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NZDUSD has broken through ascending trend line

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    NZDUSD December trade balance showed much smaller deficit as exports beat the expectations but due to RBNZ dovish stance on the currency, the pair has been sold on rallies. RBNZ governor Wheeler stated that additional NZD depreciation would be appropriate and the monetary policy should be accommodative. The pair has broken through ascending trend line and it proceeds towards POC1 1.6465-75 (H3, 50.0, bearish order block, previous breakout point, T-89) where it might reject. The zone already

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