AUDNZD approaching resistance, potential drop!

١٣ أغسطس ٢٠١٨

AUDNZD is approaching our first resistance at 1.1132 (horizontal overlap resistance, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 1.08659 (horizontal swing low support, 61.8%, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (89,5,3) is approaching resistance where a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.