NZDUSD approaching resistance, potential drop!

30 ก.ค. 2018

NZDUSD is approaching our first resistance at 0.6852 (horizontal overlap resistance, 61.8%, 100% fibonacci extension, 23.6% fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 0.6722 (horizontal swing low support, 100% fibonacci extension, 78.6% fibonacci retracement).
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
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