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Trade in focus: NZDUSD

Forex 1 minute to read

Michael McKenna

Head of Editorial Content, Saxo Bank

Summary:  Is the kiwi ready to rally?

Saxo's Trade Signals tool has identified a potential upside break out of a falling channel formation in NZDUSD. The tool gives a probability of 67% to this analysis, with this measurement evaluated against past performance over six months with respect to this pattern type.

(Disclaimer: past performance probability may not be indicative of future performance.)

The New Zealand dollar traded at 0.6547 versus USD as of publication, with Trade Signals identifying this move as having the potential to extend towards 0.6610 over the next 11 days.
Trade Signals: NZDUSD
Source: Saxo Bank
NZDUSD (four-hour, source: Saxo Bank)

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