NZD/USD is starting to drop nicely below our major resistance at 0.7188 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and we expect the price to move down to at least 0.7041 support (Fibonacci retracement, horizontal pullback support). However, we are also in a bullish ascending channel and are testing the main channel support. Only a break of this channel would confirm further downside move.RSI (34) is testing major ascending support and is starting to break below it. Only a clear break of our ascending support would trigger a strong price drop.
Sell below 0.7188. Set top loss at 0.7280 and take profit at 0.7041.
