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NZD/USD: Bull Bias For 33 Year High At .8845

Published 07/09/2014, 03:32 AM
Updated 12/12/2023, 05:55 AM

NZD/USD upside threat to multi-decade, secular high from 2011

We stated in our last client report that “whilst holding ahead of a better foundation at [the consolidation line, now .8700], we see upside threat intact this week” and also that “the bias this week and into mid-July is through the .8795 high to challenge the multi-decade high at .8845”.

The Monday rebound from ahead of this support line has allowed for a Tuesday push to a new cycle high to aim for the highest level for 33 years (since  Q2 1981), at .8845.

A break above here would aim for .8900 and .8955, with a key target at .9000.

WHAT CHANGES THIS?
Below .8713 eases bull risks; through .8700 signals a neutral tone, only shifting negative below .8662.

Download our full report with latest screencast and levels here:

4 Hour NZD/USD Chart

Daily NZD/USD Chart

Quarterly NZD/USD Chart

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