NZD/USD testing major resistance, prepare to sell

The price is testing major resistance at 0.7261 (Multiple Fibonacci retracements, horizontal swing high resistance) and we expect to see a strong reaction from this level to push the price down to at least 0.7208 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing major resistance below 92% and we expect a corresponding reaction off this level.

Sell below 0.7261. Stop loss is at 0.7301. Take profit is at 0.7208.

Analysis are provided by InstaForex