NZDUSD is testing our first resistance at 0.6992 (horizontal overlap resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.6884 (horizontal swing low support 76.4% Fibonacci retracement). Stochastic (55,5,3) is also reacting off our resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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