NZDUSD reacting below descending trendline resistance. A short term drop below our 1st resistance at 0.72469 towards recent swing low and 1st support at 0.72133 could be expected. Price is holding below moving average as well
Trading Recommendation
Entry: 0.72469
Reason for Entry:
61.8% Fibonacci retracement, Descending trendline resistance
Take Profit: 0.72133
Reason for Take Profit:
Graphical swing low support
Stop Loss: 0.72669
Reason for Stop Loss:
Graphical swing high
