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NZD/USD Moving Higher To Test The Sellers

Price rallies again, but remains to see if will have enough directional energy to reach and retest the third warning line (WL3) of the major descending pitchfork. Has shown some exhaustion signs in the last days because has failed to stabilize above the 38.2% retracement level. Only a valid breakout above the WL3 will confirm a further increase, while a failure to reach it will signal another leg lower.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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