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ICmarkets
May 17, 2018 4:33 AM

NZDUSD approaching resistance, potential drop!  Short

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is approaching our first resistance at 0.6936 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where it could potentially drop to our first support at 0.6852 (horizontal swing low support).
Stochastic is also approaching our resistance where we might see a corresponding drop in price should it react off that level.

Comments
UnknownUnicorn2528843
Excellent Its work
UnknownUnicorn2592948
Should we short now since its hovering around the resistance trend line? Thank you for your analysis btw!
RAMbelhaj
active now?
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