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FX.co ★ NZDUSD broke below ascending trendline support turned resistance! Drop incoming!

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Forex Analysis:::2021-07-19T10:20:53

NZDUSD broke below ascending trendline support turned resistance! Drop incoming!

NZDUSD broke below ascending trendline support, now resistance. A further drop below our 1st resistance at 0.69951 towards key Fibonacci zone and 1st support at 0.69403 could be possible. Technical indicators like moving average and MACD show room for further bearish momentum as well.

NZDUSD broke below ascending trendline support turned resistance! Drop incoming!

Analyst InstaForex
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