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NZD/USD consolidates near year lows

FXStreet (Bali) - The Kiwi continues to consolidate near year lows, currently being paid at $0.8065, with the US Dollar bulls struggling to make further progress even since Sept 23 when a temporary bottom was found at the 0.8040/45 level, with three failed attempts so far.

According to Jim Langlands, Founder at FXCharts: "On the downside, bids will again be seen at 0.8050 (4 Feb low) and then at today’s session low at 0.8038. A break of that would see 0.8000 come under fire, below which would see a run to the Fibo support at 0.7985 (76.4% of 0.7670-0.8839) and then the channel base at 0.7970. Resistance is seen at 0.8090 (minor) and above there at the 100/200 HMA’s at 0.8110 and at 0.8130."

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