SHORT Kiwi Index Approaching Resistance, Prepare For A Reversal
Kiwi index is approaching its resistance at 7.050(100% Fibonacci extension , 50% Fibonacci retracement , horizontal swing high resistance) where it could potentially drop to its support at 6.990 (61.8% Fibonacci extension ,50% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 91% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.