NZDUSD approaching resistance, potential drop!
Price is approaching our first resistance at 0.6379 (horizontal swing high resistance, 61.8% Fibonacci extension, short term descending resistance line) might potentially drop to our major support at 0.6767 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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Disclaimer
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.