FX.co ★ NZD/USD testing resistance, time to go short

The price is now 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.