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- NZD/USD Price Analysis: Bears bail out ahead of CPI
NZD/USD Price Analysis: Bears bail out ahead of CPI
- NZD/USD traders await to see how the land lies after the NZ CPI today.
- Bears have taken profits at key trendline support.
As per the prior analysis, NZD/USD Price Analysis: Bulls seek a break of key trendline resistance, whereby a correction was underway and a continuation would be eyed for in due course, we have seen bears move into a 50% mean reversion area while leaving room on the table for a deeper move should today's data warrant it.
NZD/USD prior analysis
The trendline resistance has kept the bears in play, so far:
We saw a false break of the trendline and a strong move to the downside to test trendline support on the way to last month's highs. Bears have moved about ahead of the data as the 0.62s come under pressure.
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