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NZD/USD reversed from resistance zone

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  • NZD/USD reversed from resistance zone
  • Next sell target - 0.7200

NZD/USD recently reversed down from resistance zone lying between the strong resistance level 0.7430 (which has been steadily reversing the pair from last September, as can be seen below) and the upper daily Bollinger Band. The last two downward reversals from the resistance level 0.7430 created the daily Japanese candlesticks reversal pattern Shooting Star. NZD/USD is expected to fall further toward the sell target at the next support level 0.7200 (low of wave (2)).

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