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Forex: NZD/USD pressured below 0.8300

By FXstreet.com,  January 07, 2013, 12:16:00 AM EDT

FXstreet.com (San Francisco) - The NZD/USD slipped below intraday support around 0.8295 in thin Asian trading, extending its decline further by 5 pips from earlier highs. Spot could find more offers in the sessions ahead, in which case 0.8263 (Oct 5 high) is offered as immediate support, which is confluent with the 50% retracement level of the advance from 0.8050 to 0.8475. The April 23 and November 7 highs in the 0.8305-10 area are likely to attract a round of sellers on rallies.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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