AUDUSD approaching resistance, potential drop!
AUDNZD is approaching our first resistance at 0.7144 (horizontal overlap resistance, 100% fibonacci extension, 38.2% fibonacci retracement) and a strong drop might occur pushing price down to our major support at 0.7056 (Horizontal swing low support, 61.8% fibonacci extension, 76.4% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price.
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.