Price is approaching our first resistance at 0.6958 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.6826 (horizontal swing low support, 61.8% Fibonacci extension). A breakout below our intermediate support at 0.6886 (horizontal...
NZDUSD is approaching its resistance where we expect to see a reversal.
Sell below 0.6931. Stop loss at 0.6960. Take profit at 0.6852.
Reason for the trading strategy (technically):
NZDUSD is approaching its resistance at 0.6931 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we expect price to reverse, causing it...
