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Tickmill
Jan 21, 2019 2:44 AM

NZDCHF approaching resistance, potential drop!  Short

New Zealand Dollar/Swiss FrancFXCM

Description

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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