Technical analytics

Fibonacci analysis of NZDUSD


The overall picture remained positive. However, some buyers abandoned the market after reaching 0.6800 which caused upward pressure decrease. The pair declined to 0.6750 afterwards where the lower boundary of the ascending channel lies. Sellers lost momentum here and started a consolidation. The moving averages continued moving north. MACD declined in a positive territory. Stochastic bounced from the oversold levels. The resistance stands at 0.6750, the support is at 0.6700.

If sellers maintain control the pair will move lower and may test 0.6700 in the coming sessions.

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