NZDUSD approaching resistance, potential drop!
NZDUSD is approaching our first resistance at 0.6778 (horizontal pullback resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 0.6670 (horizontal swing low support, 100% Fibonacci extension). Ichimoku cloud is also showing sign of bearish pressure in line with our bearish bias.
RSI (55) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
RSI (55) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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