FX.co ★ NZD/USD dropping perfectly from our selling area

The price has reached our selling area as expected and is seeing a nice bearish reaction below 0.7065 resistance (Fibonacci retracement, Fibonacci extension) where we expect a drop to at least 0.6968 support (Fibonacci retracement, recent swing low support). We can see that price has made a bearish exit in a similar fashion to Stochastic which gives us stronger conviction of a drop from here.

Stochastic (21,5,3) sees major resistance at 95% and has bearish divergence vs price which signals a strong drop is impending. It has also made a bearish exit signaling a drop is impending.

Sell below 0.7065. Stop loss at 0.7113. Take profit at 0.6968.