The NZD/USD chart reflects a bearish momentum within a descending channel, suggesting a potential for further downward movement. The price could potentially continue its bearish trend towards the 1st support level at 0.6089, which is supported by pullback and swing low support. Conversely, resistance is observed at the 1st resistance level of 0.6309 and the 2nd resistance level of 0.6393, hindering upward movement
The material has been provided by InstaForex Company – www.instaforex.com
The NZD/USD chart reflects a bearish momentum within a descending channel, suggesting a potential for further downward movement. The price could potentially continue its bearish trend towards the 1st support level at 0.6089, which is supported by pullback and swing low support. Conversely, resistance is observed at the 1st resistance level of 0.6309 and the 2nd resistance level of 0.6393, hindering upward movement
The material has been provided by InstaForex Company – www.instaforex.com
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