FX.co ★ NZD/USD prepare to sell on break of major support

The price is hovering above the key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell on the break of such a key support for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below 94% where we expect a further drop from soon. Confirmation of the break of our key support on price is needed to confirm our move down.

Sell below 0.7423. Stop loss is at 0.7461. Take profit is at 0.7332.