NZDUSD has rejected from trendline resistance. Now it is now facing support at 0.7336 level. If it can break this support, we can expect more down on this pair. Next target will be 0.7200 area. After NFP news released, we saw rapid falling on this pair. So this is good sign for sellers. This pair has got bearish power. So we can sell on this pair.
Submit Your Comments:
In Technical Indicators view
In daily chart, MACD indicator is below 0.0 level which indicates it downtrend.
In daily chart, RSI indicator is also below 50 level which is giving sell signal
50, 100 and 200 Moving averages are giving sell signal on nzdusd pair.
In summery, this pair is still on down pressure which is confirmed by technical indicators. So our recommendation is to stay on downside on nzdusd pair.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 0.7598
Resistance One (R1): 0.7477
Pivot Point: 0.7326
Support One (S1): 0.7205
Support Two (S2): 0.7054