MEX_Exchange
Short

NZDUSD testing major resistance, time to sell

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD             is at a good opportunity to sell.

Sell below 0.7306. Stop loss at 0.7341. Take profit at 0.7249.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7306 ( Fibonacci retracement , horizontal overlap resistance, Fibonacci extension ) and a strong drop could occur at this level to push price all the way down to 0.7249 support ( Fibonacci retracement , horizontal swing low support). We do have to be cautious about 0.7276 intermediate support as price might bounce off there.
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.

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