The NZD/USD chart currently exhibits an overall bearish momentum with a potential scenario for price to make a bearish continuation towards the 1st support level.
The 1st resistance level at 0.6050 is identified as an overlap resistance. Additionally, the 2nd resistance level at 0.6095 is marked as a pullback resistance that aligns with the 127.20% Fibonacci extension level.
To the downside, the 1st support level at 0.5989 is identified as an overlap support that aligns with the 50.00% Fibonacci retracement level. Further below, the 2nd support level at 0.5934 is noted as a pullback support.
The material has been provided by InstaForex Company – www.instaforex.com
The NZD/USD chart currently exhibits an overall bearish momentum with a potential scenario for price to make a bearish continuation towards the 1st support level.
The 1st resistance level at 0.6050 is identified as an overlap resistance. Additionally, the 2nd resistance level at 0.6095 is marked as a pullback resistance that aligns with the 127.20% Fibonacci extension level.
To the downside, the 1st support level at 0.5989 is identified as an overlap support that aligns with the 50.00% Fibonacci retracement level. Further below, the 2nd support level at 0.5934 is noted as a pullback support.
The material has been provided by InstaForex Company – www.instaforex.com
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