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FibnFork
Mar 9, 2019 6:40 PM

NZDUSD weekly outlook 

New Zealand Dollar/U.S. DollarFXCM

Description

The kiwi has held its narrow range between the 50% fib retrace @$0.69 & $0.673 which has been a solid pivot area. Now alongside those 2 levels we have 2 moving averages. The 200 day joins the bottom of the range & the 200 week joins the top.
The key formation though is the triangle (purple dashed) so a push through the 200 day and the lower slope of the triangle comes in @$0.665. A break through the 200 Week targets the upper slope. Always keep in mind the long-term pitchfork formation (Blue).

Daily

A shorter term triangle is forming & both slopes also coincide with the moving averages

4 Hour
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