💱NZDUSD - Complex situation on a simple chart

١٨ يوليو ٢٠٢٣

NZDUSD is forming a false breakout that could potentially send the price to the bottom. Price is testing key fibo areas and could give a bounce.

TA on the high timeframe:
1) False break of 0.6305 forms bearish momentum
2) Price is aiming for the liquidity area of 0.62000

TA on the low timeframe:
1) A retest of 0.382 fibo is formed, which may form a correction to 0.6305, after which the price may again continue its fall
2) At the moment, 0.63328 may be an important target in terms of downward movement.
3) The trend is changing, but there has been no confirmation yet, a false breakout may be false

Key resistance📈: 0.6305
Key support📉: 0.6232