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

The AUD/NZD pair is approaching its resistance at 1.0533 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.0505 (38.2% Fibonacci retracement, horizontal pullback support).

Stochastic (21, 5, 3) is nearing its resistance at 93% where a corresponding reversal is anticipated.

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

Sell below 1.0533. Stop loss at 1.0564. Take profit at 1.0505.