The NZDUSD broke and held below 0.6660 support
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 0.6800
Min. 0.6500 |
Yesterday the bears broke intermediate support at 0.6660. The re-test of the barrier triggered consolidation. The level is now acting as resistance.
The longer the price consolidates below the 0.6660 resistance, the bigger is the possibility of the bounce down and continuation of the bearish trend.
The main decline targets are situated at 0.6600, 0.6500 supports.
Alternative scenario: the breaking of the descending trend line at 0.6700 will allow the bulls to correct the price towards 0.6735, 0.6800, 0.6855.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!
The NZDUSD broke and held below 0.6660 support
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 0.6800
Min. 0.6500 |
Yesterday the bears broke intermediate support at 0.6660. The re-test of the barrier triggered consolidation. The level is now acting as resistance.
The longer the price consolidates below the 0.6660 resistance, the bigger is the possibility of the bounce down and continuation of the bearish trend.
The main decline targets are situated at 0.6600, 0.6500 supports.
Alternative scenario: the breaking of the descending trend line at 0.6700 will allow the bulls to correct the price towards 0.6735, 0.6800, 0.6855.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!