NZD / USD fell sharply during today's Asian session, and the NZD became the leader in the fall after reports of the first case of infection with coronavirus in New Zealand since February.
In case of further decline, NZD / USD will go to the support levels of 0.6865 (Fibonacci 23.6% retracement in the global wave of the pair's decline from the level of 0.8820) and 0.6845. A breakout could finally push the NZD / USD into a bear market zone and return it to the global downtrend that began in July 2014 (see also "Fundamental Analysis and Recommendations")
In an alternative scenario and after the breakdown of the resistance levels 0.7015, 0.7050, the growth of NZD / USD may continue towards the local resistance level 0.7105 (July highs). Its breakdown will become a confirming signal of the resumption of the long-term upward dynamics of NZD / USD, and the growth target will be the resistance levels 0.7240 (Fibonacci level 38.2%), 0.7300, and further - 0.7430, 0.7550 (Fibonacci level 50%), 0.7600.
Trading recommendations
Sell Stop 0.6890. Stop-Loss 0.6960. Take-Profit 0.6865, 0.6845, 0.6800
Buy Stop 0.6960. Stop-Loss 0.6890. Take-Profit 0.6980, 0.7015, 0.7050, 0.7105, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600
*) NZD/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
