AUDNZD approaching resistance, potential drop!
AUDNZD is approaching our first resistance at 1.0842 (horizontal swing high resistance, 61.8% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 1.066 (horizontal overlap support, 50% Fibonacci retracement). A breakout below our intermediate support at 1.075 (horizontal pullback support, 23.6% , 50% Fibonacci retracement) might provide the bearish acceleration to our major support level.
Stochastic (55,5,3) is also approaching our major resistance and we might see a corresponding drop in price should it react off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk
Stochastic (55,5,3) is also approaching our major resistance and we might see a corresponding drop in price should it react off this level.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk
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