NZD/USD - weekly breakdown with bearish condition

NZD/USD - weekly breakdown with bearish condition

3 July 2015, 03:11
Sergey Golubev
1
848
  • "NZD/USD broke below the March-April advance at .6800 on Tuesday to trade at its lowest level in over 5-years"
  • Weekly price is below 100-period SMA and 200-period SMA for bearish breakdown
  • Daily price is below 100-day SMA and 200-day SMA for bearish market condition
  • Weekly price is breaking Fibo key support at 0.6693 for the breakdown to be continuing
  • RSI indicator is estimating the breakdown with oversold condition
  • "A daily close back above .6955 would turn us positive on the kiw"

NZDUSD Strategy

Instrument Support 2 Support 1 Spot Resistance 1 Resistance 2
NZD/USD .6700 .6750 .6770 .6800 .6955
Share it with friends: