easyMarkets

NZDUSD approaching resistance, potential drop!

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD is approaching our first resistance at 0.6717 (horizontal overlap resistance, 100% Fibonacci extension, 23.6%, 38.2%, 61.8% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.6612 (horizontal pullback support, 100% Fibonacci extension, 50% Fibonacci retracement).
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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