FX.co ★ Daily Video Analysis: NZDUSD facing bearish pressure, further downside!

Today we take a look at NZDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price has broken below the ascending trendline support (now resistance). We could potentially see a reversal at our sell entry level, in line with out 23.6% Fibonacci retracement, and further drop to our first take profit level, in line with our -27.2% FIbonacci retracement, or to our second take profit level, in line with our horizontal swing low support.