Bulls come up top test key daily resistance – Crypto News – Crypto News
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NZD to weaken against the USD over the short to medium-term – HSBC NZD to weaken against the USD over the short to medium-term – HSBC

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Bulls come up top test key daily resistance – Crypto News

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  • NZD/USD bears eye a move to test below the 0.6160s.
  • Trendline support is calling with the bird on the front side of the bearish daily trendline.

The New Zealand Dollar outperformed against G10 currencies after China’s authorities signaled further stimulus, propping up the bird after weakening in the prior six sessions. At the time of writing, the Bird is trading at 0.6200 and has traveled between 0.6155 and 0.6215.

From a technical standpoint, the Kiwi is under pressure but has come up to test the resistance, both horizontal and dynamic:

NZD/USD daily chart

As illustrated, the pair is on the front side of the bearish trend and sees prospects of a move below the 0.6160s that guards a run towards major trendline support.

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