NZD/USD under major resistance, time to start selling
October 5, 2017 1:51 am
The price is experiencing major resistance and we take this opportunity to start selling. We look to sell below 0.7174 resistance (Fibonacci retracement, descending resistance, horizontal overlap resistance) for a push down to at least 0.7087 support (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing descending resistance similar to price holding it down.
Sell below 0.7174. Stop loss is at 0.7210. Take profit is at 0.7087.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The price is experiencing major resistance and we take this opportunity to start selling. We look to sell below 0.7174 resistance (Fibonacci retracement, descending resistance, horizontal overlap resistance) for a push down to at least 0.7087 support (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing descending resistance similar to price holding it down.
Sell below 0.7174. Stop loss is at 0.7210. Take profit is at 0.7087.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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