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ForexAnalytixPipczar

The NZDUSD is setting up for a breakout higher.

Long
New Zealand Dollar / U.S. Dollar (OANDA:NZDUSD)  
ForexAnalytixPipczar  
OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Fibonacci Chart Patterns
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trendanalysis fibonacci chartpattern
The NZDUSD is setting up for a bullish breakout this week and target above the .6150 level and closer to .6200 if the US CPI data comes in weaker than the market expects. You can see below that the NZDUSD is capped by the 200dma (red) but developing a bullish pennant. The NZDUSD also is consolidating after breakout out of a descending channel which does suggest the path of least resistance is higher near term. 
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