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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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NZD/USD drop in progress, remain bearish

Price rose perfectly to our selling area as expected and saw a strong reaction from our major resistance at 0.7223 (Fibonacci projection, horizontal resistance) where we expect a drop to at least 0.7168.

Stochastic (21,5,3) is seeing major resistance at the 94% level where we expect another bearish reaction from.

Sell below 0.7223. Stop loss at 0.7257. Take profit at 0.7168.

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