NZDCHF approaching resistance, potential drop!

FX:NZDCHF   New Zealand Dollar/Swiss Franc
NZDCHF is approaching our first resistance at 0.6742 (Horizontal pullback resistance, 50% Fibonacci retracement , 100% Fiboancci extension) and a strong drop might occur pushing price down to our major support at 0.6591 (Horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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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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