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Technical Analysis: NZDUSD flashes Bullish Marubozu at 5-month high amid overbought RSI

The bullish candlestick formation on the NZDUSD pair's daily chart struggles to perform amid overbought RSI conditions. With this, the prices may witness a pullback towards the immediate support line, at 0.6575 now. In a case pair fails to bounce off two-week-old rising support-line, 61.8% Fibonacci retracement level of July-October fall, at 0.6565, can offer another rest-point. If at all buyers avoid coming back around 0.6565, the pair's downpour towards a 200-day SMA level of 0.6525 can't be ruled out.

Considering the pair's likelihood of a bounce from 0.6575, 0.6700 could flash on the Bull's radar. Though, 0.6750/55 and the July month high near 0.6790 will lure the buyers past-0.6700 mark.

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