NZDUSD: Sells Off, Resumes Downside Pressure

11 July 2017, 16:03

NZDUSD: The pair continues to face downside pressure selling on Tuesday and leaving risk lower in the days ahead. Support lies at the 0.7200 level. Further  down, the 0.7150 level comes in as the next  downside target. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 0.7250 level where a break will aim at the  0.7300 level. A break of here will have to occur to  create scope for a run at the 0.7350  level. Further  out, resistance stands at the 0.7400 level. All in all,  NZDUSD faces further downside pressure.

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