NZDUSD: Medium-Term Outlook Still Bearish, But Near-Term Bounce Possible

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Last week, we alerted traders to a major breakdown in NZDUSD and concluded that, '…as long as previous-support-turned-resistance zone from .8500 to .8525 holds, the medium-term bias will remain to the downside. If and when rates break the 100-day MA, a move down to the 50% Fibonacci retracement at .8415



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