Multiple Wick Rejection At Support And The 50 Fibonacci Level
Price broke the previous high of 0.64175 and began a retracement. At the 0.64341, there is an obvious level of support, met with the 50 Fibonacci level. Price on the stochastic indicator is also nearly overextended, leading me to believe price will definitely continue to the upside. With multiple wick rejections, there is clearly a lot of buying pressure that will give me enough indication to go ahead and go for a buy on NZDUSD.
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