DailyFX: New Zealand Dollar Tests .7100

New Zealand dollar traders continued to establish a second shoulder of the small Head and Shoulders formation. A further move to the downside will most likely see the pair head lower and with a break below .7075, a level established by the 50.0 Fib of the .7468-.6681 USD rally, most likely see the greenback longs push the NZD/USD below the combination of the 200-day and 20-day SMA’s at .7014-7032 SMA corridor.   
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