NZDUSD testing major resistance, potential drop!
We're seeing NZDUSD test major resistance at 0.7274 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong reaction could occur at this price to push price all the way down to major support at 0.7206 (Fibonacci retracement, horizontal swing low support). We do have to be wary of intermediate support found at 0.7232 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 94% and also sees bearish divergence vs price which is a precursor that price might be seeing a strong reversal.
Stochastic (34,5,3) is seeing major resistance at 94% and also sees bearish divergence vs price which is a precursor that price might be seeing a strong reversal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.