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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 approaching key resistance where we could see a reversal occur!

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Price is approaching a key resistance at 1.0620 where it could potentially reverse to its support at 1.0576.

Entry : 1.0620

Why it's good : horizontal pullback support, 61.8% fibonacci extension, 50% Fibonacci retracement

Stop Loss : 1.0646

Why it's good : 61.8% fibonacci retracement, horizontal swing high resistance

Take Profit : 1.0576

Why it's good : 50% Fibonacci retracement, horizontal swing low support

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