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19 December, 2014

NZD/USD

There is a trendline that could cap price around 0.7843 which 61.8% of previous up move and also we have also have resistance around the 0.7800 major psychological level and also price making lower highs. This suggests that Kiwi bears could push price back down to the bottom of the pattern, which is right around the .7700 major psychological support zone. Do watch out for any potential breakouts,



Kiwi 4hr: the Kiwi is trading above the crucial 0.77 but is still below a recent bear trend line and the monthly pivot and both of these will act as resistance. A close above the trend line would be encouraging though:


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