NZD/USD – 1H – SELLThe currency pair goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.60834 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.61191 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.60730388 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 0.61191 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.61446 |
| 2nd High | 0.61405 |
| Next High | 0.61191 |
| Current Price | 0.60885 |
| Next Low | 0.60834 |
| 2nd Low | 0.60534 |
| 3rd Low | 0.60522 |