NZD/USD dropping nicely since reaching our selling area, remain bearish

The price touched our selling area before reversing strongly. We remain bearish looking to sell below major resistance at 0.7244 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.7178 support (Fibonacci extension, horizontal swing low support) once again.

Stochastic (21,3,1) is seeing strong resistance at 95% and still has good downside potential to ride the drop down.

Sell below 0.7244. Stop loss is at 0.7300. Take profit is at 0.7178.


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