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NZDUSD corrects some of Friday’s rise, but rebounds towards the close.

NZDUSD rose on Friday following a report from ANZ that they have now seen 2 more earnings in 2024 (at 6%). This priced the market and pushed NZDUSD towards a swing zone between 0.61487 and 0.6159. The price rise stopped and returned to decline. In today’s trading, price action has been more up and down with a downward bias, but the last few hours have seen an upward rotation as the trading day draws closer of the fence.

If the rise is to continue, the price must rise above the aforementioned 0.6148 to 0.6159 zone. Above this level, traders would look towards a 38.2% retracement from the December high. This level sits at 0.61639, followed by the 200-bar moving average on the four-hour chart at 0.6173.

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William Dupuy

Independent political analyst working in this field for 14 years, I analyze political events from a different angle.
Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
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