NZDUSD approaching resistance, potential drop!
NZDUSD is approaching our first resistance at 0.6982 (horizontal overlap resistance, 23.6% Fibonacci retracement) and price might potentially drop to our first support at 0.6784 (horizontal swing low support). A breakout below our short term ascending support line might provide the bearish acceleration to our first support target.
RSI is also approaching our descending resistance line and a reaction off this level might see a corresponding drop in price.
RSI is also approaching our descending resistance line and a reaction off this level might see a corresponding drop in price.
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