Technical analysis of NZD/USD 12/05/2019

NZD / USD currency pair is in an upward correction within the downward channel on the 1D timeframe. The pair found resistance at 0.6570, where 61.8% of Fibo coincides with MA200.
Currently, the pair is consolidating in the area of 0.6530. From current levels, there is reason to assume the resumption of the development of a downward trend within the channel with a target below 0.6200.
Cancellation of the option to reduce the pair will be a strong growth and consolidation above 0.6650, what will indicate the exit of quotes from the channel and will give prerequisites for their further growth to the area of 0.6800.

NZDUSD_STPDaily

Created by Joshua Hayn

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