The August fall is now likely a throwback in preparation for test of 2009 high. This is revealed by the weekly chart. In a positive scenario, target and resistance zones for the NZDUSD is likely to be the August 2010 high, followed by the January 2010 level and then finally October 2009 .
Weekly chart of NZDUSD shows base building to challenge 2009 high
If it falls below the trendline again, we could see a resumption of fall.
In the big picture, August fall is merely a retracement
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