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14.06.2016 01:59 AM
NZD/USD Trading Recommendations 14th June 2016

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We can see how NZD/USD has reacted off our long-term channel resistance here and has also shown a bearish divergence vs stochastics signalling a big drop is impending.

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Our strategy for the day is a drop from here to 0.6970. We can see how the RSI has reacted well below the pullback resistance too. 0.6970 is a fibonacci retracement level, too, along with a graphical support level.

Trading recommendations:

Sell now

Stop loss: 0.7150

Take profit: 0.6970

Dean Leo,
Analytical expert of InstaForex
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