Price action on NZD/USD, after having broken out above a confluence of resistance early last week (that included the key 0.6600 resistance level and a long-term downtrend resistance line extending from the March 2008 highs), hit a high just above 0.6800, pulled back to re-test the 0.6600 new support level, and has currently recovered to re-test the 0.6800 resistance level once again. For more technical analysis on this currency pair, please click here for Thursday’s (8/13/2009) Chart of the Day.
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