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NZDUSD reversed nicely off descending channel resistance!

NZDUSD tested its descending channel resistance at 0.7040 (78.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance) and reversed nicely where it has the potential to fall further to its support at 0.6987 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (21, 5, 3) reversed nicely off its resistance where a corresponding drop could occur.

ICmarkets

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