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NZDCAD earlier reversed up from the support area lying between the key support level 0.86000 (former resistance from May), lower daily Bollinger Band and the 38.2% Fibonacci correction of the earlier multi-month upward impulse wave from March. Given the rising bullish New Zealand sentiment seen across the FX markets today – NZDCAD is likely to extend the gains toward the next resistance level 0.87000 (former strong support from the middle of June).
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