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ANZ: bullish on NZD/USD

ANZ strategists now believe that NZD/USD has potential for a test of declining resistance at $0.8625/30 and previous high in the $0.8790/0.8845 area.

"Kiwi strength no longer looks like a corrective squeeze, but rather a relatively dynamic leg within the broad consolidation pattern (or triangle) that has been developing since 2011. Key support lies at $0.8250".

Chart. Weekly NZD/USD

 

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