Technical analytics

Fibonacci analysis of NZDUSD


The market changed its sentiment yesterday. Buyers failed to move beyond 0.6800 and gave up control. Sellers took their place and sent the pair to 0.6770. The selling pressure increased here and the spot accelerated its decline. Sellers led the price to 0.6750 and then continued the downward trajectory to 0.6730. The EMA200 and the EMA50 are heading north. MACD declined in the positive area. Stochastic dropped to the oversold levels. The resistance stands at 0.6750, the support is at 0.6700.

The ongoing weakness in the pair could open the door to a test of 0.6670 (the retracement of 61.8%).

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