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NZD/USD testing 0.8240/50 offers

FXstreet.com (Barcelona) – NZD/USD bearish moves from last week are being unwound this week, as the approach to 0.81 round number last Friday getting further confirmation of being a ‘head fake’ breakout as price now regains further ground into 0.8250.

Technically, according to Jim Langlands, Founder at FXCharts, notes: “For the Kiwi, there is a chance of a squeeze to slightly higher levels, possibly to revisit the session high at 0.8228 (0.8225: 38.2% of 0.8393/0.8124) and then 0.8260 (50%).” On the downside, Westpac FX strategist Imre Speizer notes: “A break below 0.8125 is expected during the next few days.”
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