Daily Bars

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Prepared by Jamie Saettele

The dominant pattern in the NZDUSD is the 5 wave drop from 7975, which keeps me looking lower. The decline from 7824 is unfolding in an impulsive manner, price has broken below both the 20 and 50 day averages, and the January low is on the verge of giving way. 7500 and 7433 may provide temporary support but a break below 7342 is ultimately expected.

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