NZD / USD Test Support; See Stochastic

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NZD / USD Test Support; See Stochastic

Preferences: BEARISH

Reference Area: 0.69661 – 0.69954 (search for BEARISH signal confirmation)

Support: 0.69188, 0.68715, 0.68422

Resistance: 0.69661, 0.69554, 0.70427

Comments:

The movement of NZDUSD on the hourly chart is in BEARISH condition and at the moment if note the price is testing the support area. Beware of stochastic indicator is in potentially oversold condition. Based on forex technical analysis today, if NZDUSD move up and stuck at resistance at 0.69661 – 0.69954 then search for valid SELL signal which there is potential price will move down towards the next support at 0.69188. But if resistance at 0.69954 penetrated that there is potential price will move up towards resistance at 0.70427.

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