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NZD/USD Trading Recommendations for 20th June 2016

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We can see fractal resistance at 0.7100 (graphical resistance, fibonacci retracement, 1.0 fibonacci extension) that has the RSI right below a descending resistance line. This gives us a good conviction of a drop from here to at least 0.7015.

Trading recommendations:

Sell now below 0.7100

Stop loss at 0.7150

Take profit at 0.7015

The material has been provided by InstaForex Company - www.instaforex.com