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NZDUSD testing major channel resistance,potential strong drop!
NZDUSD is testing major channel resistance at 0.6936 (Fibonacci retracement, Fibonacci extension, price action, channel resistance) and a strong drop could occur at this level to push prices all the way down to major support at 0.6852 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is also seeing major resistance at 91% where a corresponding drop could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is also seeing major resistance at 91% where a corresponding drop could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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