Technical analysis of NZD/USD 07/24/2019

Quotes of the NZD/USD currency pair was tested the resistance at the level of 0.6790, after what the pair corrected to 0.6700 (MA100 on the 4H timeframe). At this point, we should expect the continuation of the downward correction within the ascending channel to the level of 0.6650 (MA200 4H timeframe), after what will be the renewal of the development of the upward trend above 0.6800.
Cancellation of the growth of the pair after the correction will be a strong fall below the level of 0.6600. That will indicate the quotes output from the ascending channel and a trend change on the 4H timeframe.


Created by Joshua Hayn

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