AUDNZD testing its descending resistance line

Apr 13, 2018

AUDNZD is testing its descending resistance line where a potential reaction could happen at 1.0551 (50% Fibonacci retracement, 38.2% Fibonacci retracement, multiple swing high resistance), causing price to fall to its support at 1.0488 (61.8% Fibonacci extension, horizontal swing low support). We have also identified another resistance at 1.0573 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (21, 5, 3) is testing its resistance at 94% where a corresponding reaction could occur.