NZDUSD in supply zone, keep an eye out
NZDUSD is seeing major resistance in our supply zone around the 0.7070 area (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) and a strong drop could occur from this level to drive price towards our major support area of 0.6823 (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below our 98% level of resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance below our 98% level of resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results