AUDUSD approaching resistance, potential drop!
AUDNZD is approaching our first resistance at 0.7144 (horizontal overlap resistance, 100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 0.7056 (Horizontal swing low support, 61.8% fibonacci extension, 76.4% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price.
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Feragatname
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