FX.co ★ AUD/NZD Approaching Resistance, Prepare For A Reversal

AUD/NZD is approaching its resistance at 1.0590 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.0518 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 93% where a corresponding reversal is expected.

AUD/NZD is approaching its resistance where we expect to see a reversal.

Sell below 1.0590. Stop loss 1.0637. Take profit at 1.0518.