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NZD/USD Classical 032/11/2010
Written by article default Wednesday, 03 November 2010 12:40
NZD/USD: A break to fresh yearly highs above 0.7700 seriously compromises our bearish outlook here, with the market now threatening a fresh upside extension back towards critical psychological barriers by 0.8000 over the coming days. However, with daily studies starting to look stretched, we will hold onto our bearish bias and look for yet another topside failure ahead of some fresh downside. Any rallies towards 0.7800 should be sold on Wednesday. Back below 0.7635 will help to relieve topside pressures.
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