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AUDNZD recently broke the support zone lying between the key support level 1.0660 (which created Double Bottom in October), running close to the 38.2.% Fibonacci correction of the previous upward impulse from August. Given rising New Zealand bullish sentiment – AUDNZD is likely to remain under the bearish pressure and to fall toward the next support level 1.0530 (former support from August). The upside is capped by the resistance level 1.0615 (former low of wave (a)).
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