FX.co ★ NZD/USD approaching key resistance, potential reversal!

Price is facing bearish pressure from our first resistance where we can expect a drop below this level to our first support level. Stochastic is approaching resistance as well.

Entry : 0.6717

Why it's good : horizontal pullback resistance, 38.2% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 0.6775

Why it's good : horizontal swing high resistance, 50% fibonacci retracement

Take Profit : 0.6585

Why it's good : horizontal swing low support