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The previous trends are starting to reassert themselves as the USD slips back and sentiment for the recovery in equity markets builds again. However, these are essentially holding patterns ahead of a likely volatile week ahead.
The action in forex is all “down under” today with the NZD and AUD making moves. Weaker New Zealand inflation and a shake-up of the RBA are the drivers.
A rally is a sustained positive move in price, in bull or bear markets. Rallies can last for a few minutes to several months or years, based on trading style.
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