NZD/USD Long-Term Trend: Bearish
Key Resistance Levels: 0.5627, 0.5659, 0.5750
Key Support Levels: 0.5529, 0.5478, 0.5432
The price on the higher time frame has been in a downtrend for some time and it has broken a few support levels. Recently the pair did a pullback and faced resistance at the 0.5749 level. It has been rejected from there and continues the trend.
NZD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price has started the down trend again after a pullback. It broke a consolidation zone of 0.5750 and 0.5659 to the downside. It has now broken and retested a minor level of 0.5627 before continuing the momentum.
Sell Limit Order @ 0.5585
TP 1 @ 0.5535
TP 2 @ 0.5485
Stop Loss @ 0.5635
Trade Safely 🙂