From the FXWW Chatroom – NZDUSD has benefitted from a strong risk on move post G20 headlines. NZD rarely moves in a straight line, but as further positives are announced and with NZDUSD firmly above prev res around 6870 it feels like we’ll watch yet another strong December. Many who sold ahead of the 200day m/a which was resistance in to the G20 meeting have been stopped out and are reluctant to double down with headlines remaining upbeat. 6870 becomes support and 70 cents seems an appealing short term target if further progress is made between China and the US.
NZDAUD however has not broken above resistance around 9420/50 with shorts building over the last week.
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