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NZDCAD recently reversed down from the resistance zone lying between the long-term resistance level 0.89000 (top of the previous weekly Shooting Star from the middle of 2019) and the upper daily Bollinger Band. Given the overbought daily Stochastic and the strongly bearish New Zealand dollar sentiment seen across the currency markets today – NZDCAD is likely to fall further toward the next support level 0.88000 (former multi- month high from the start of January).
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