We can see how NZD/USD has reacted off our long-term channel resistance here and has also shown a bearish divergence vs stochastics signalling a big drop is impending.
Our strategy for the day is a drop from here to 0.6970. We can see how the RSI has reacted well below the pullback resistance too. 0.6970 is a fibonacci retracement level, too, along with a graphical support level.
Trading recommendations:
Sell now
Stop loss: 0.7150
Take profit: 0.6970
