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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 approaching support, potential bounce!

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Price is approaching support where it is expected to bounce to its resistance. We are expected some NZD strength later today due to risk-on sentiment back in the market..

Entry : 0.6603

Why it's good : 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance

Stop Loss : 0.6561

Why it's good : 61.8% Fibonacci retracement, horizontal pullback support

Take Profit : 0.6667

Why it's good : Horizontal swing low support, 38.2% Fibonacci retracement

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