NZDUSD approaching resistance, potential drop!
NZDUSD is approaching our first resistance at 0.6982 (horizontal overlap resistance, 23.6% Fibonacci retracement) and price might potentially drop to our first support at 0.6784 (horizontal swing low support). A breakout below our short term ascending support line might provide the bearish acceleration to our first support target.
RSI is also approaching our descending resistance line and a reaction off this level might see a corresponding drop in price.
RSI is also approaching our descending resistance line and a reaction off this level might see a corresponding drop in price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.