NZDUSD rose further and is now testing major resistance again
Sell below 0.6885. Stop loss at 0.6922. Take profit at 0.6823.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 89% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 0.6885 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective drop from here to at least 0.6823 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 89% where we expect a corresponding drop from.