NZD/USD – 30M – BUYThe pair moves from the bullish trendline downwards
A bearish descent downwards to the next support level at 0.59530 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.59802 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.59751 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.59802 could be enabled.
Consider stop-loss settings accordingly.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59892 |
| 2nd High | 0.59827 |
| Next High | 0.59802 |
| Current Price | 0.59679 |
| Next Low | 0.59530 |
| 2nd Low | |
| 3rd Low |