On the one
hour chart of the NZD/USD we can see that the price has broken below the 200
period exponential moving average and makes a low around the 0.6899 level to pull
back to the same moving average, around the 0.6930. Price may drop to the
downside from this level and continue dropping in the direction of the initial
break down. If the price continues dropping, then the first support could be
the 0.6899 level and the second support could be the 0.6842. If price breaks
above the 200 period EMA, then it could rally to the 0.6982, which could act as
resistance.
Helpful post.
ReplyDeleteVery useful analysis, thank you for sharing!
ReplyDeleteVery helpful analysis, thanks.
ReplyDeleteGreat analysis, I will keep it in mind.
ReplyDeleteImportant information, will keep it in mind!
ReplyDeletewell spotted.
ReplyDeleteGood point. I'll keep a close eye on it.
ReplyDelete