NZDUSD (0.7376): The New Zealand dollar posted a strong recovery yesterday as price managed to rise back to a one week high. However, further gains can be expected only a close above the previous highs near 0.7408. There is a possibility that this level could be tested but we expect that NZDUSD could reverse in the short term. Support at 0.7333 is likely to be tested to the downside. The fact that a retest of the lower support level at 0.7160 is still pending could remain as the downside risk.
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