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​EUR/NZD – Today’s Major Level 1.6039

The currency pair has stabilized since the 11th of June, 2015 between the range of 1.6157 and 1.6039, with the first level being a major resistance level, and the second one perceived to be a probable bearish break-out zone.
In the event sellers overcome buyers in trading volume, the pair could decelerate as low as 1.5902 and 1.5845 respectively. A longer term daily target could be 1.5645.
Alternatively, a break above the 1.6157 level could be a strong indication that the price could resume oscillating toward higher levels.



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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