Tickmill
Short

EURNZD approaching resistance, potential drop!

FX:EURNZD   Euro / New Zealand Dollar
EURNZD is approaching our first resistance at 1.6939 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1.6756 (horizontal pullback support, 50% Fibonacci retracement ).
Stochastic (89,5,3) is approaching resistance where we might see a drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
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