AUDNZD approaching its resistance, potential reversal!
AUDNZD is approaching its resistance at 1.0665 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) where a potential reversal could occur, causing price to drop to its 1st support at 1.0599 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). We have also identified another resistance area at 1.06888 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 97% where a reaction could occur.
Stochastic (89, 5, 3) is making a corresponding approach to its resistance at 97% where a reaction could occur.
Trade closed: target reached
AUDNZD dropped nicely to our support target! Nice!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.