The NZD fell in line with its peers against the USDovernight, down 0.6% to 0.8280. The move could have extended further, but the 0.8260level stamped its credentials as strong technical support,with the NZD’s sell-off bouncing just above that. That levelmarks a 50% retracement of the rally from June 2013(0.7684) to July 2014 (0.8836). A break through here wouldopen up a quick move down toward 0.8120.
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