Nick Nasad
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NZD/USD - STarting To Make Its Move Higher?

The NZD/USD pair has been in a well defined range over the last 3 weeks, and I had talked about watching which way the pair would break out, as it would be a good clue as to the next phase in this pair. To start the week, we see the 0.8340 resistance level pierced.

While its important to be cognizant of a false break-out, there is some general USD weakness and a move towards the post-FOMC highs is now my preferred bias. If that move materializes and it becomes part of a wider USD bearish phase, then we may see a reaction at that new high .08430 high, before perhaps a further move higher in the pair. Something worth watching as we move through the first half of the week.

See the most recent price action in the NZD/USD pair by clicking below:

New Zealand Dollar vs US Dollar Forward contract

- Nick