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NZD/USD Is Approaching Resistance, Lookout For A Reversal

NZD/USD is approaching its resistance at 0.6931 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we expect the price to reverse, causing it to fall to its support at 0.6852 (horizontal swing low support, 61.8% Fibonacci extension).

Stochastic (55, 5, 3) is approaching its resistance where a corresponding reversal is expected.

Sell below 0.6931. Stop loss at 0.6960. Take profit at 0.6852.

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The material has been provided by InstaForex Company - www.instaforex.com