FX.co ★ AUD/NZD reacted perfectly from our resistance, remain bearish

Price reacted perfectly from our major resistance at 1.0596 (Fibonacci retracement, horizontal resistance) where we expect a continued drop towards at least 1.0477 (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) has reacted perfectly off major resistance from our 94% level and still has good downside potential.

RSI (34) is also seeing major resistance from the 64% level where our previous major reversal occurred and still has good downside potential.

Sell below 1.0596. Stop loss at 1.0661. Take profit at 1.0477.