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At the moment, EUR/NZD is struggling at the 50-hour SMA at 1.5620; however, this resistance is not the only hindrance for a climb to the neck-line at 1.5689. The pair is likely to face downside pressure at 1.5634/46 (four-hour R1, R2), 1.5656/8 (daily R1; for-hour R3) and 1.5681 (daily R2). Meanwhile, traders believe the pair is capable of overcoming at least some of these obstacles – almost two thirds of them hold a bullish view.
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