FX.co ★ NZD/USD profit target reached perfectly, prepare to sell on channel resistance

The price has bounced up perfectly from our buying area and has reached our profit target. We prepare to sell on major resistance at 0.7329 (Fibonacci retracement, horizontal resistance, channel resistance) for a push down to at least 0.7263 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing the major resistance below 94% where we expect a corresponding drop from.

Sell below 0.7329. Set stop loss at 0.7371 and take profit at 0.7263.