NZDUSD: Declines Further On Corrective Pullback

Mohammed Isah FXTechstrategy

NZDUSD: The pair looks to build on its Friday correction in the new week as it saw price weakness during early Monday trading session today. Support lies at the 0.7300 level. Further down, the 0.7250 level comes in as the next downside target. Conversely, resistance resides at the 0.7400 level where a break will aim at the 0.7450 level. A break of here will have to occur to create scope for a run at the 0.7500 level. Further out, resistance stands at the 0.7550 level. All in all, NZDUSD faces further downside pressure

Interested in NZDUSD technicals? Check out the key levels

1. R3 0.7437
2. R2 0.7417
3. R1 0.7386
PP 0.7366
1. S1 0.7335
2. S2 0.7315
3. S3 0.7284

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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