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NZDUSD: under pressure after the publication of the labor market statistics for New Zealand

Sell on a level breakthrough of 0.6500 with 0.6440 target. Stop loss = 0.6550.

Reason for the trading strategy

In Q2 2015, the unemployment rate in New Zealand increased from 5.8% to 5.9% and the employment rate increased by 0.3% (q/q), being worse than the expected 0.5% (q/q). The data is negative for the Kiwi. In the short term, the NZD/USD pair may update its yearly low.



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