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Nenad Kerkez

The EUR/NZD is bearish and it’s having a retracement. We could see a bit of selling in the zone provided that the market gains volatility.

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1.7005-30 is the POC zone. We can also see a descending trend line which adds to the confluence. D H3 camarilla pivot is resistance. The price should drop towards 1.6926 and 1.6821 which is also the ATR projection low. 1. 6802 is W L3 level, so pay attention to it once the price starts to move down. Only above 1.7077, bulls will gain momentum and the trend will change.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

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