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Tickmill
Jan 23, 2019 3:37 AM

NZDUSD testing resistance, potential drop! Short

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is testing our first resistance at 0.6778 (Horizontal swing high resistance, 50% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.6745 (Horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
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