NZD/USD – 30M – SELLThe currency pair goes from the ascending trendline down.
A descent downwards to the next support level at 0.61826 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62025 could be enabled.
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. Current target is 0.61905348 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 0.62025 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62704 |
| 2nd High | 0.62539 |
| Next High | 0.62025 |
| Current Price | 0.61977 |
| Next Low | 0.61826 |
| 2nd Low | 0.61800 |
| 3rd Low | 0.61539 |