AUD/NZD close to major resistance, prepare to sell - Forex247

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Wednesday, September 21, 2016

AUD/NZD close to major resistance, prepare to sell

Price is close to major resistance at 1.0350 (Fibonacci projection, Fibonacci retracement, horizontal overlap resistance) where we expect a reaction from for a drop to 1.0290.

RSI (21) is seeing resistance at 64%, holding the bearish move we have.

Stochastics (21,3,3) is seeing major resistance at 88%, where we expect a similar reaction off.

Sell below 1.0350. Stop loss is at 1.0375. Take profit is at 1.0290.

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