NZDUSD still at major resistance, time to start selling

2016-11-08 16:50    Exness

Sell below 0.7345. Stop loss at 0.7375. Take profit at 0.7190.

Reason for the trading strategy (technically):

Price made a strong push up and is now at major resistance at 0.7345 (Fibonacci retracement, Fibonacci projection, horizontal resistance) where we expect a strong drop from here towards 0.7190.

RSI (34) is also at major resistance where the previous major reversal occurred.

NZD

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