NZD/USD Is Continuing To The Bearish, Heading Towards Next Support

Rupak Roy PreferForex

On the Weekly view, NZDUSD is trading below the major resistance zone at 0.6850. This area worked as support previously that has been broken successfully on August 2018. After retesting it several times the pair is again moving bearish. The pair will remain bearish as long as the price trades below this level.

On the daily chart, the pair break the previous low at 0.6585 and now trading below the level. The nearest support at 0.6425. Now the pair is heading towards the next support which is 0.6425 as the trading signal is still bearish.

Author

Rupak Roy

PreferForex

Founder of PreferForex, a reference website for FX traders For Education and Market Analysis. Roy holds Electronic and Electrical Engineering Degree. He has accumulated 8 years of forex market trading and deep market analysis knowledge.

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