NZDUSD approaching resistance, potential drop!

١٧ يوليو ٢٠١٨

NZDUSD is approaching our first resistance at 0.6863 (horizontal overlap resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.6990 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (21,5,3) is also approaching resistance where we 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.