AUD/NZD Testing Resistance, Prepare For Reversal

AUD/NZD is testing its resistance at 1.0876 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.0830 (61.8% Fibonacci retracement) is expected.

Stochastic (55, 5, 3) has reversed off near its resistance at 93% where a corresponding drop is expected.

AUD/NZD is testing its resistance where we expect to see a reversal.

Sell below 1.0876. Stop loss at 1.0905. Take profit at 1.0830.


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