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The NZD/USD pair dropped below the uptrend line signaling exhausted buyers and that the upside movement could be over. The uptrend line represented a downside obstacle. Now, it is trading somehow sideways in the short term.
The 0.6306 former low represents is seen as a downside obstacle. As long as the instrument stays above it, the price could try to increase.
Dropping and stabilizing below 0.6306 indicates a larger downside movement. This scenario brings new selling opportunities.
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