FX.co ★ NZD/USD right on major support, prepare to sell on the breakout

The price is now testing major support at 0.6885 (Multiple Fibonacci retracements, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support).

RSI (34) is starting to see multiple bearish exits as a precursor to a drop we're expecting.

Sell below 0.6885. Stop loss is at 0.6921. Take profit is at 0.6823.