Pullback Expected
NZDUSD has seen a strong rally over the past 2 weeks but I would argue with momentum grinding to a halt amid strong resistance from the 0.717 there is a good chance for a pullback to at least 0.708 (23% Fib and also the Daily 100 SMA). If this level holds a move back to resistance at current levels would be likely. However, if it fails a deeper pullback to between 0.700 (POC) and 0.703 (38% Fib and Weekly S1) is on the table.
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