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NZDUSD Undergoing A Temporary Three Wave Recovery

Elliott Wave Financial Service
By Elliott Wave Financial Service

NZDUSD is making an intra-day rally from the lows, where previous five wave movement has ended. That said, current rally can now be part of a three wave contra-trend reaction that can in sessions ahead find some resistance around the Fibonacci ratio of 50.0/61.8 and near the previous swing high of wave four at 0.7269. Around the mentioned area a new reversal lower can begin.

NZDUSD,1H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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