NZD/USD – 1H – SELLThe pair goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.60695 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.61191 could occur.
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 is likely expected. Current target is 0.60730388 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 0.61191 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.61446 |
| 2nd High | 0.61405 |
| Next High | 0.61191 |
| Current Price | 0.60851 |
| Next Low | 0.60695 |
| 2nd Low | 0.60534 |
| 3rd Low | 0.60522 |