Short

NZDUSD reversed nicely off its resistance!

Updated

NZDUSD reversed nicely off its resistance at 0.7052 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 0.6988 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.7010 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed nicely off its resistance at 96% where a corresponding move down could occur.

Trade closed: target reached

nice! it dropped down to our first profit target!

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