logo

FX.co ★ NZDUSD right below resistance, prepare to sell!

NZDUSD right below resistance, prepare to sell!

The price is starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push the price down to at least 0.6822 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong drop from here.

Sell below 0.7055. Stop loss is at 0.7181. Take profit is at 0.6822.

NZDUSD right below resistance, prepare to sell!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account