AUDNZD approaching resistance, potential drop!

2018년 5월 11일

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.
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