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EUR/NZD – Strong Support Level Noticed at 1.5692

The currency pair has been trading within a swing channel formation since yesterday’s trading session, 09th of June, 2015, with the bears having exerted further downside pressures, and bulls strongly withholding the price above 1.5692, today’s major support level.
In the scenario where the price escalates, buyers could take advantage of three probable take profit target levels, the 1.5839, 1.5927 and 1.0684 respectively.
Alternatively, in the condition where the downside pressures exceed the upside ones, then the currency pair could drop as low as 1.5551, the next probable major support level.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.
 


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