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EURNZD recently reversed down from the resistance area lying between the key resistance level 1.790 (top of the previous A-wave from September), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse (1) from August. Given the strength of this resistance support area and the bearish NZD sentiment, EURNZD is likely to fall further in the active impulse wave (3) toward the next support level 1.7600 (low of the previous wave B).
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