NZD/USD – 30M – SELLThe currency pair moves from the ascending trendline down.
A descending movement downwards to the next support at 0.61290 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.61729 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 0.61451 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.61729 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62189 |
| 2nd High | 0.62086 |
| Next High | 0.61729 |
| Current Price | 0.61390 |
| Next Low | 0.61290 |
| 2nd Low | 0.61060 |
| 3rd Low | 0.60663 |