Technical analysis of NZD/USD 11/22/2019

NZD/USD currency pair is at upward correction within the downward channel on a 1D timeframe. Currently, the pair is consolidating in the area of 0.6430, which is superimposed by MA100 and the level of 38.2% on the Fibo grid.
If the pair develops a correction and goes above 0.6430, the next resistance will be in the zone of 0.6500, what coincides with the level of 50% on the Fibo grid. However, the key goal of the correction is most likely to be the area of the level of 0.6570, where 61.8% of Fibo coincide with MA200. After what the pair will go to a new downward wave within the channel with a target below 0.6200.

NZDUSD_STPDaily

Created by Joshua Hayn

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