easyMarkets
Short

NZDCAD approaching resistance, potential drop!

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZDCAD is approaching our first resistance at 0.9086 (horizontal overlap resistance, 50% Fibonacci retracement , 100% fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 0.9001 (50% fibonacci retracement , horizontal pullback support).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding 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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