NZDUSD has bounced up perfectly from our 1st support and reached our major resistance from Friday. We’re now seeing major resistance at 0.7276 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong drop could occur from this level to push price down to at least 0.7186 support (Fibonacci extension, horizontal swing low support).

Stochastic (21,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Share this post: