AUDNZD is approaching resistance, potential drop!

20 เม.ย. 2018

AUDNZD is approaching our first resistance at 1.0671 (horizontal swing high resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.0603 (horizontal overlap support, 38.2% Fibonacci retracement).

Stochastic (55,5,3) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price.

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