NZD/USD dropped perfectly as expected and hit our profit target before bouncing up again. Now we're looking to sell on strength closer to the 0.7100 level for a drop again to 0.6975. The stochastic (21) is reaching resistance once again, where we expect the price to drop off correspondingly.
0.7110 is a graphical resistance of the first wave i in close and 0.7110 is a 1.0 fibonacci projection of wave iv.
Trading recommendation:
Sell at 0.7100
Stop loss at 0.7150
Take profit at 0.6975
