NZD/USD testing major resistance, prepare for a drop

Price is now testing major resistance at 0.7344 (Fibonacci extension, horizontal swing high resistance) and we expect a drop from here towards at least 0.7301 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance at 95% and we expect a strong reaction below that level. Correlation analysis: AUDUSD and NZDUSD are both […]