NZDUSD completed a bearish breakout below key support levels, The price has broken the key juncture i mentioned in my previous analysis, please check related links below
- The price has taken the 200-days SMA
- The main rising trend line was broken
-The key horizontal support at 0.8400
- the 61.8 retracement level for the bullish wave
-The price maintains a new sequence of lower highs and lower lows
Accordingly, the downside remains favored for now, the potential downside target is at 0.8218 followed by 0.8085 level. Key short term resistance at 0.8400-0.8415 should limit any rally for the bearish momentum to remain dominant,
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
- The price has taken the 200-days SMA
- The main rising trend line was broken
-The key horizontal support at 0.8400
- the 61.8 retracement level for the bullish wave
-The price maintains a new sequence of lower highs and lower lows
Accordingly, the downside remains favored for now, the potential downside target is at 0.8218 followed by 0.8085 level. Key short term resistance at 0.8400-0.8415 should limit any rally for the bearish momentum to remain dominant,
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page www.thefxchannel.com
My best regards,
Technician
