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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 reversed off resistance, potential drop!

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Price reversed off resistance at 0.6720 where it could potentially drop further to its support at 0.6680.

Entry : 0.6720

Why it's good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance

Stop Loss : 0.6774

Why it's good : 61.8% Fibonacci retracement

Take Profit : 0.6680

Why it's good : 100% Fibonacci extension, horizontal pullback support

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