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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/NZD buy again above major support

Price tested our stop loss level and reversed above this strong support level at 1.0550 (horizontal support, Fibonacci retracement, bullish candlestick reversal). We remain bullish looking to buy above this level for a small push up to 1.0615.

RSI (34) is also seeing major support at the 34% level where we expect a bounce from.

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Buy above 1.0550. Stop loss at 1.0503. Take profit at 1.0615.

The material has been provided by InstaForex Company - www.instaforex.com