NZD/USD – 1H – SELLThe pair moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.60534 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.61054 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 0.60534 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.61054 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.61405 |
| 2nd High | 0.61191 |
| Next High | 0.61054 |
| Current Price | 0.60608 |
| Next Low | 0.60534 |
| 2nd Low | 0.60522 |
| 3rd Low | 0.59739 |