NZDUSD broke below ascending trendline support, now resistance. With technical indicators showing room for further bearish momentum, a short term drop below 1st resistance at 0.71209 towards graphical swing low at 1st support at 0.70760 could be possible.
Trading Recommendation
Entry: 0.71209
Reason for Entry:
23.6% Fibonacci retracement, ascending trendline resistance
Take Profit: 0.70760
Reason for Take Profit:
-61.8% Fibonacci retracement, Graphical swing low support
Stop Loss: 0.71566
Reason for Stop Loss:
Graphical swing high resistance
