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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/NZD close to major resistance, prepare to sell

Price is close to major resistance at 1.0350 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance) where we expect a reaction from for a drop to 1.0290.

RSI (21) is seeing resistance at 64%, holding the bearish move we have.

Stochastics (21,3,3) is seeing major resistance at 88%, where we expect a similar reaction off.

Sell below 1.0350. Stop loss is at 1.0375. Take profit is at 1.0290.

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