Klimex

NZDUSD approaching resistance, potential drop!

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar

NZDUSD is approaching our first resistance at 0.6881 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance) where we might see a drop in price to our first support at 0.6611 (61.8% Fibonacci retracement , 61.8% Fibonacci extension, horizontal overlap support ).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks


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.