NZD/USD touched our selling area and dropped perfectly from it once again. 0.7268 is a key resistance level (Fibonacci retracement, Fibonacci projection, multiple horizontal pullback resistance) that we intend to keep selling off for a further drop to 0.7210.
RSI (21) is approaching pullback resistance where we expect another reaction from.
Sell below 0.7268 resistance. Stop loss is at 0.7300. Take profit is at 0.7210.
The material has been provided by InstaForex Company – www.instaforex.com
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