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NZDUSD Technicals: The NZDUSD is stretching to a new high since September 23.

Reported · Written up by our desk · Major Pairs

The NZDUSD is stretching to the upside, reaching its highest level since September 23. Buyers have been rebuilding the technical picture after the pair’s decline from the August 21 high at 0.59868 to last Wednesday’s low at 0.55645. That recovery has developed one step at a time. First, the price broke above a downward-sloping trendline. Then it moved above its 100- and 200-hour moving averages and started to put some distance between the price and those technical barometers. A subsequent break above the swing area between 0.56256 and 0.56333 gave buyers another reason to push higher.

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