NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are below the 200-day Moving Average on D1, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. In these circumstances, a rebound from the 3/8 (0.6042) level is expected, followed by a decline to the support at 1/8 (0.5920). The scenario could be cancelled by rising above 3/8 (0.6042), in which case, the pair might rise to the resistance at 4/8 (0.6103).
On M15, the price decline might be supported by a breakout of the lower boundary of VoltyChannel.
Origin: RoboForex
