NZDUSD broke below ascending trendline support turned resistance! Drop incoming! | Market Analysis
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NZDUSD broke below ascending trendline support turned resistance! Drop incoming!
06:20 2021-07-19 UTC--4

NZDUSD broke below ascending trendline support, now resistance. A further drop below our 1st resistance at 0.69951 towards key Fibonacci zone and 1st support at 0.69403 could be possible. Technical indicators like moving average and MACD show room for further bearish momentum as well.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.