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NZDUSD has reached our resistance target,potential upcoming drop

Short
Dollaro neozelandese / Dollaro (FX:NZDUSD)  
Tickmill Broker  
FX:NZDUSD   Dollaro neozelandese / Dollaro
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout nzdusdbuy nzdusd4hrs
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trendanalysis harmonicpatterns chartpattern nzdusd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily nzdusdsell nzdusdbreakout nzdusdbuy nzdusd4hrs
NZDUSD has bounced up perfectly from our 1st support and reached our major resistance from Friday. We’re now seeing major resistance at 0.7276 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong drop could occur from this level to push price down to at least 0.7186 support (Fibonacci extension, horizontal swing low support).

Stochastic (21,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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