The AUD/NZD pair is back to our major resistance at 1.0550 (horizontal overlap resistance, Fibonacci retracement, Fibonacci projection) where we expect a reaction to a new drop to 1.0445
Stochastic (21,3,3) is below pullback resistance of 72% from which we expect a reaction.
Sell below 1.0550. Stop loss is at 1.0630, take profit lies at 1.0445.
The material has been provided by InstaForex Company – www.instaforex.com
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