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Ndzusdshort

NZDUSD approaching resistance, potential drop! NZDUSD is approaching our first resistance at 0.6718 (horizontal pullback resistance, 61.8% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.6613 (horizontal overlap support, 61.8% fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and a reaction below this level might see a corresonding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill