NZD/USD starting to face resistance, be prepared to sell




The price has rebounded to the perfection of the purchase of our region last week. Now, we are seeing the price to test a strong resistance to 0.7343 (Fibonacci retracement, Fibonacci extension, horizontal overlap of the resistance) and we expect to see a strong reaction there to push prices down to at least 0.7279 of support (Fibonacci extension, horizontal swing low support, Fibonacci retracement) once again.

Stochastic (34,5,3) is to see the major resistance to 95% and we expect to see a strong reaction off of this level.

Sell below 0.7343. Stop loss is at 0.7390. Take profit is at 0.7279.



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