NZDUSD testing major resistance, potential for drop!
NZDUSD is testing major resistance at 0.7278 (multiple fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong drop could occur from here to push price down towards 0.7190 support (Fibonacci extension, horizontal swing low support). Our next resistance is at 0.7312 which also has multiple fibonacci retracements and an overlap resistance.
Stochastic (21,5,3) is approaching major resistance at 96%.
Stochastic (21,5,3) is approaching major resistance at 96%.
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