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NXD/USD (Daily Chart) - Resisted by the 200-Day EMA

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
SynapseTrading  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis NZDUSD NZD-USD Forex forexsignals forextrading priceaction priceactionanalysis Technical Analysis synapsetrading
5
0
trendanalysis chartpattern beyondta nzdusd nzd-usd forex forexsignals forextrading priceaction priceactionanalysis technicalanalysis synapsetrading
After breaking the neckline about 4-5 months ago, this pair has been mostly bullish, but in the past 1 month it has shown a strong rebound back to the breakout point.

Now, it is being resisted by the support-turned-resistance and the 200-day EMA, and if prices are unable to cross those, then it is likely that the bearish trend will continue.

Based on the price projection of the rectangle pattern and prior low, a good target would be near the 0.62 region.
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