NZD/USD – 1H – SELLThe pair moves from the ascending trendline down.
A bearish trend downwards to the next support level at 0.60206 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.60836 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 0.6035468 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 0.60836 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.61191 |
| 2nd High | 0.61054 |
| Next High | 0.60836 |
| Current Price | 0.60432 |
| Next Low | 0.60206 |
| 2nd Low | |
| 3rd Low |