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The New Zealand dollar broke higher during the week, testing the uptrend line and it now looks as if we are ready to try to break out. If we clear the top of the weekly candle, the market should then go to the 0.75 handle above. A breakdown below the bottom of the candle from the previous week, which is a hammer, would be very negative, but I don’t think that’s going to happen now. The New Zealand dollar continues to be very bullish, and I think it’s only a matter of time before we go to the 0.75 handle above.

NZD/USD Video 03.7.17

This article was originally posted on FX Empire

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