NZDUSD Price Action Analysis - Fibo support level to be crossed for breakdown
9 September 2015, 09:11
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W1 price is located below 200 period SMA
(200-SMA) and 100 period SMA (100-SMA) for the primary bullish with secondary ranging
between 23.6% Fibo resistance level at 0.6474 and Fibo support level at 0.6084. Descending triangle pattern was formed with Fibo support level at 0.6084 for the bearish trend to be continuing. If the price breaks 0.6084 from above to below so we may see good bearish breakdown of the price movement; if not so the price will be ranging within the familiar levels.
If the price will break Fibo support level at 0.6084 so the bearish trend will be continuing with good breakdown possibility.
If not so the price will be on bearish condition for ranging within the familiar levels.
Trend:
