Possible Pull-Back

Support: 0.8000
Resistance: 0.7800
Trading at historically high levels, technical traders consider previous price action to gauge the magnitude of a possible pull-back in the NZDUSD. Using Bollinger Bands, one can deduce from previous breakouts that another break in the upper band could result in the retracement to the 23.0% FIB at the confluence of 0.7800.

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