FX.co ★ NZD/USD profit target reached, prepare to sell

The price has bounced up and reached our profit target perfectly. We prepare to sell below major resistance at 0.7367 (Fibonacci extension, horizontal swing high resistance, Elliott wave theory) for a drop from this level towards at least 0.7300 support (Fibonacci retracement, horizontal overlap support).

Stochastic (21,5,3) is dropping nicely from our 90% resistance and we expect a further drop from here.

Sell below 0.7367. Stop loss is at 0.7391. Take profit is at 0.7300.