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Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading: NZDUSD benefits from carry trade and technical buyers

Posted by Greg Michalowski on Fri, 05/16/2008 - 11:06am in

 

The NZDUSD has moved back above the 0.7665 100 day moving average.  Once the level was broken the pair continued higher and is now testing the midpoint of the last move down at 0.7733. 

The pair is now more neutral after the few bearish days that saw the pair test the channel trendline on the downside. 

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