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NZD/JPY Higher Lows Confirms With Uptrendline Drawn Off March Low

FOREX
  • NZD/USD recovering well off the session lows thanks the pullback in the USD across NY hours, with the next upside level well within range at the $0.6229 50-dma.
  • NZD/JPY has found support Wednesday, printing a higher high and higher low for a third consecutive session. The price action conforms with the uptrendline drawn off the March low of 80.436, and opens 83.802 and horizontal resistance at 83.770 to the upside. 84.303 marks the 50% retracement for the Dec - March downleg in the cross.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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