NZDUSD is approaching resistance, potential reversal!

11 במאי 2018

NZDUSD reversed off its resistance at 0.6978 (78.6% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension, horizontal overlap resistance) where price could potentially fall to its support at 0.6909 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.6939 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (34, 5, 3) reversed off its resistance at 94% where a corresponding drop could occur.