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Friday, 20 November 2009

The fall of the New Zealand dollar and more than 200 points

The breakdown of 0.7310/00 level of support has increased the bear moods and currently the exchange rate reached 0.7240 before the intended target.


Now look at other indicators:

Exchange Rates entrenched below the average with periods of 89, 144, 34 and 55, which are now a number of strong resistance levels 0.7330, 0.7380 and 0.7400/20.

The MACD histogram is located in the negative zone below its signal line, continues to decline, and thereby sends a signal to sell the New Zealand dollar.

Stochastic Oscillator is in oversold does not give clear signals.

Therefore, as a confirmation that the market would be exacerbated bearish sentiment, we can only wait for the breakdown support level 0.7240, which could open the way to a local minimum of 0.7100.

Resistance levels: 0.7250, 0.7270/80, 0.7300/10, 0.7340/50, 0.7370/80, 0.7400

Current Price: 0.7239

Support levels: 0.7220/00, 0.7160/50, 0.7110/00, 0.7080, 0.7050

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