NZD/USD – 1H – SELLThe currency pair New Zealand Dollar/US Dollar (NZD/USD) jumps from the bullish trendline down.
A bearish descent downwards to the next support at 0.58285 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.58886 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.58285 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.58886 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.59109 |
| 2nd High | 0.59044 |
| Next High | 0.58886 |
| Current Price | 0.58329 |
| Next Low | 0.58285 |
| 2nd Low | 0.58151 |
| 3rd Low | 0.57965 |