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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 right on resistance, sell for a corrective drop

The price has continued to rise and is now seeing strong resistance at 0.7528 (Multiple Fibonacci extensions) and we expect to see a corrective drop from this level to at least 0.7461 support (Fibonacci retracement, horizontal pullback support).

Stochastic (55,5,3) is seeing major resistance below 94% where we expect a reaction from soon.

Sell below 0.7528. Stop loss is at 0.7560. Take profit is at 0.7461.

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