Kiwi Rebounds

Written February 16, 2010 at 10:10 PM EST by  

The NZD/USD pair had a strong rally on the back of retracing commodity prices and generally firm trading day for risk pairs across the board. On the chart below support at the 38.2% retracement of the latest move (1/14 .7440 – 2/5 .6806.) A break of this level could lead to another move against the Kiwi until more support could be found at the 2o0 day moving average.

nzdusd

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