FX.co ★ AUD/NZD Approaching Resistance, Prepare For A Reversal!

AUD/NZD is approaching its resistance at 1.0776 (61.8% Fibonacci retracement, 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing the price to fall to its support at 1.0717 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reaction could occur.

Sell below 1.0776. Stop loss 1.0812. Take profit at 1.0717.