NZD/USD – 1H – SELLThe combination goes from the bullish trendline downwards
A descending movement down to the next support level at 0.61518 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.61934 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.61727736 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 0.61934 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62739 |
| 2nd High | 0.62539 |
| Next High | 0.61934 |
| Current Price | 0.61801 |
| Next Low | 0.61518 |
| 2nd Low | 0.61060 |
| 3rd Low | 0.59739 |