NZDUSD (0.7392): Price action in the New Zealand dollar looks somewhat similar to most of the other major currency pairs. After posting a fresh high, NZDUSD has also formed a double top pattern at the highs. This could suggest a near term decline. As a result, NZDUSD could be seen testing 0.7333 where support could be tested after it previously failed as resistance. But in the event that this support fails, then NZDUSD could be pulling back to post further downside correction. Support at 0.7160 is likely to be tested.


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