NZDUSD reacted off resistance, further potential drop!

21 במאי 2018

NZDUSD has reacted off our first resistance at 0.6935 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where it might drop to our first resistance at 0.6872 (horizontal swing low support, 76.4% Fibonacci retracement). A breakout below this level might push price down to our second support at 0.6853 (horizontal swing low support, 61.8% Fibonacci extension).
RSI (89) is also seeing a bearish exit in line with our bearish bias.