NZD/USD approaching major resistance, prepare to sell

The NZD/USD pair is approaching major resistance at 0.7044 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) and we expect that the price will drop from this level towards 0.6951 support (Fibonacci retracement, horizontal support).

Stochastic (21,5,3) is seeing resistance at 93%.

Sell below 0.7044. Set top loss at 0.7089 and take profit at 0.6951.

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

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