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Forex: NZD/USD capped at 0.8355/57

FXstreet.com (Barcelona) - The NZD/USD ascension was capped at the 0.8357 mark (intraday maximum) during American trading, as investors eagerly await news of a bailout in Cyprus. Having eased off its highs in recent moments, the pair is now trading at 0.8341/45, whilst still operating positively at +0.34% Friday.

According to Research Analyst Mark De La Paz at FX Instructor, “The NZD/USD is generally bullish though prices are just under a moderate resistance at 0.8355. With a mid-level bullish candlestick pattern, a bullish engulfing pattern has emerged in hourly charts, looking for possible buys on a close above the aforementioned price.”

De La Paz identifies resistances at 0.8355, onto the 0.8397 mark, and finally 0.8450. Conversely, the NZD/USD is slated to encounter calculated support at 0.8302, ahead of 0.8260, and ultimately 0.8207.

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