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Forex pairs in this Article » NZD/USD
FXstreet.com (Barcelona) - The NZDUSD is operating in negative territory Monday during a relatively muted trading session as the United States celebrates Columbus holiday. Having bottomed out at 0.8149 earlier today, the cross has pared the majority of its losses to settle within striking distance of its opening price.

"The NZDUSD is currently trading slightly below 0.8183 and that confirms the Double Top pattern. This pattern will bearishly influence the pair and push it further to the downside as far as trading remained below the mentioned level. The linear regression indicators are negative and that further supports the negative pattern." writes the analyst team at ICN.com.

At the time of writing the pair has settled in the area of 0.8163, suffering a mild loss of -0.07% on the day. ICN.com analysts the next supportive means at 0.8160, followed by 0.8135, and finally 0.8100. On the ascension, the NZDUSD will test resistive means of correction at 0.8185, then 0.8225, and finally 0.8265.

According to the Westpac Research Team, "We adopt a negative bias for the week ahead, targeting the level 0.8130 for the NZDUSD - extreme long positioning in the NZD is offset by a negative backdrop for the USD, although near-term technical momentum is now negative."
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