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Dollar New Zealand / Dollar AS
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NZDUSD reversed nicely off descending channel resistance!

Oleh ICmarkets
Broker
NZDUSD tested its descending channel resistance at 0.7040 (78.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance) and reversed nicely where it has the potential to fall further to its support at 0.6987 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (21, 5, 3) reversed nicely off its resistance where a corresponding drop could occur.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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