NZD/USD approaching resistance, potential drop!

NZDUSD is approaching our first resistance at 0.6725 (horizontal pullback resistance, 23.6% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 0.6554 (100% Fibonacci extension , 76.4% Fibonacci retracement ).

Ichimoku cloud is also showing signs of bearish pressure.

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Losses can exceed the initial investment so please ensure you fully understand the risks.


The material has been provided by InstaForex Company -

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