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The New-Zealander to the Canadian corrected a bit faster than I expected, but as the saying goes: “the market is not a pharmacy”. The current rebound from the resistance gives us a positive signal for further price drops with the range marked in the image. For traders of this currency pair it is known that entering a good trend can result in holding positions for up to 2 months, adding on corrections. A currency pair rarely reacts as aggressively as, for example, gold or indices.

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