NZD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.6451, 0.6534, 0.6619
Key Support Levels: 0.6321, 0.6252, 0.6197
The price on the higher time frame has been in a downtrend for some time after facing rejection from around 0.70 level and has shown good momentum. Recently the pair did a pullback but faced rejection from below the 0.6592 level and turned around to the bearish side again.
NZD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price was trading in a range and attempted to break to the upside but faced rejection from the 0.6534 level and reversed to break the level of 0.6451. As of now the pair has done a retest of that level and continuing the momentum.
Sell Stop Order @ 0.6392
TP 1 @ 0.6328
TP 2 @ 0.6260
Stop Loss @ 0.6458
Trade Safely 🙂