NZD/USD right on major resistance, remain bearish

The price is now testing major resistance. We remain bearish looking to sell on strength below major resistance at 0.6968 (Fibonacci retracement, Fibonacci extension, bearish divergence) for a push down to at least 0.6827 support (Fibonacci extension, horizontal swing low support).

Stochastic (55,3,1) is seeing strong resistance below 96% and also sees bearish divergence vs the price signaling that a reversal is impending. It still has some good downside potential for price to drop further.

Sell below 0.6968. Stop loss is at 0.7043. Take profit is at 0.6827.


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