NZD/USD at major resistance, time to start selling - Forex247

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Thursday, November 3, 2016

NZD/USD at major resistance, time to start selling

Price made a strong push up and is now at major resistance of 0.7308 (Fibonacci retracement, Fibonacci projection, horizontal resistance) where we expect a sharp drop from here towards 0.7185.

RSI (34) is also at major resistance where the previous major reversal occurred.

Sell below 0.7308. Stop loss at 0.7350. Take profit at 0.7185.

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The material has been provided by InstaForex Company - www.instaforex.com

From www.instaforex.com http://ift.tt/2eCerXh

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