NZD/USD is testing major resistance, watch for a reversal

Price is testing major resistance at 0.7431 (Fibonacci extension, horizontal swing high resistance), and a strong reaction could occur at this level to push the price down towards the 0.7256 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

Sell below 0.7431. Stop loss at 0.7532. Take profit at 0.7256.


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