FX.co ★ NZD/USD Approaching Resistance, Prepare For Drop

The NZD/USD pair is approaching our first resistance at 0.6890 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 0.6836 (38.2% Fibonacci retracement).

Stochastic is also nearing resistance where we might see a corresponding drop in price.