AUDNZD reacted off its resistance, potential to drop further!

2 באפר׳ 2018

AUDNZD reacted off its resistance at 1.0638 (50% Fibonacci retracement, horizontal overlap resistance, descending resistance line) where it could potentially drop to its 1st support at 1.0595 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). If it breaks past this level, it could fall to its 2nd support at 1.0558 (horizontal swing low support). We have also identified another resistance at 1.0666 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance).

Ichimoku cloud is showing signs of bearish pressure.