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NZDUSD Weekly Technical Analysis | December 13, 2014
NZDUSD is following a downward channel. This pair was rejected from near to its upper trendline. In daily candle, we can see a spnning top and next candle is bearish, so this can indicate bearish signal for this pair. For sell entry, target will be 0.7700 area. This level is still acting as very strong support. This pair failed to stay below this support, that's why we saw some bullish movement on this pair. If break this support, then down rally can resume again.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 0.7985
Resistance One (R1): 0.7849
Pivot Point: 0.7774
Support One (S1): 0.7638
Support Two (S2): 0.7563
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