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EURNZD continues to rise after the recent upward reversal from the key support level 1.72250 (low of the previous Bullish Engulfing from the start of June), standing near the lower daily Bollinger Band. Given the oversold reading on the daily Stochastic indicator and the strongly bullish sentiment affecting the Euro today – EURNZD is likely to extend the gains toward the next resistance level 1.75500 (which stopped the two previous corrections 2 and (2) – as can be seen below).
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