NZDUSD holding below descending trendline resistance. With price holding below moving average, a short term drop below 1st resistance at 0.71127 towards graphical swing low at 1st support at 0.70776 could be possible.
Trading Recommendation
Entry: 0.71127
Reason for Entry:
50% Fibonacci retracement
Take Profit: 0.70776
Reason for Take Profit:
-27.20% Fibonacci retracement, Graphical swing low support
Stop Loss: 0.71302
Reason for Stop Loss:
Graphical swing high resistance
