FX.co ★ EUR/NZD approaching resistance, potential drop!

EUR/NZD is approaching our first resistance at 1.6606 (horizontal pullback resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.6561 (61.8% Fibonacci retracement).

Ichimoku cloud is also showing signs of bearish pressure.

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