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Buying dips on NZD - FXWW

FXStreet (Bali) - Sean Lee, Founder at FXWW, continues to endorse the idea of buying dips on NZD, both from an intraday and medium-term perspective.

Key Quotes

"NZD/USD has bounced nicely of important technical support levels at .8400 and the bulls are threatening to re-take control. Stops were triggered above .8500 and now we’ve settled back near .8490."

"Talking my position as usual, but I like the buy-dip strategy both intraday and medium-term although I’d be surprised if we trade outside of .8460/.8530 during Asian trade."

"AUD/NZD has been interesting recently, with plenty of talk in the professional marketplace about large stops below 1.0920. Yet, every time we got close to that level, we saw a healthy bounce! Sounds like somebody might have been playing games, talking about stops and actually trying to buy? Just a guess on my part but 1.0920 is still the crucial level here."

"I’m still bearish on USD/CAD and I suspect that there will be plenty of stops sub-1.0860. It won’t move during Asian trade but maybe these levels get tested pre-w/e during North American trade?"

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