Technical analysis of NZD/USD 07/12/2019
The NZD/USD currency pair tested resistance at the level of 0.6700, which coincides with the MA200 and 50% Fibo on the 1Daily timeframe, and after that it dropped to 0.6570 and resumed the growth.
At the moment, the price is consolidating around 0.6680 coinciding with the MA100 on a 1-day timeframe. There is reason to assume the resumption of the downward movement from the area of current levels within the forming downward channel with a target below 0.6500.
Cancellation of the pair falling will be further growth and breakdown of resistance in the area of 0.6770. This will indicate a breakdown of the upper boundary of the channel, MA100 and MA200, as well as 61.8% Fibo, which may mean a change in trend with further growth of quotes above 0.6900.
Created by Joshua Hayn