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.
Created by Joshua Hayn