NZDUSD: closing the November 6th gap -13:05 (CET)

19 November 2009 @ 07:58 am EDT

The pair built a double top yesterday at 0.75 and since then the dollar hasn't yet stopped with great strength. It broke the second most significant support at 0.7309, prompting the pair to close the gap from November 6th. Despite the RSI being heavily oversold, we expect the gap to be fully closed, arriving at 0.7264. Once there, the dollar will have more difficulties to advance, given the amount of existing important levels.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

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