NZD/USD reverses lower from long-held Fibonacci resistance. Repeated bull failure at price hurdle could attract selling pressure. NZD/USD is currently trading near 0.63, having failed to take out resistance at 0.6319 – the 23.6% Fibonacci retracement of the 2020 sell-off – a few minutes before press time. The Fibonacci hurdle has capped gains two times in the last three days. The repeated failure to clear the price resistance has shifted risk in favor of a pullback to 0.6280 (38.2% Fib retracement of the recent price bounce). A violation there would expose support at 0.6250. A close above 0.6319 would validate the bullish divergence of the 14-day relative strength index and open the doors for gains toward 0.64. Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD Price Analysis: Two-week-old trendline keeps buyers hopeful FX Street 3 years NZD/USD reverses lower from long-held Fibonacci resistance. Repeated bull failure at price hurdle could attract selling pressure. NZD/USD is currently trading near 0.63, having failed to take out resistance at 0.6319 – the 23.6% Fibonacci retracement of the 2020 sell-off – a few minutes before press time. The Fibonacci hurdle has capped gains two times in the last three days. The repeated failure to clear the price resistance has shifted risk in favor of a pullback to 0.6280 (38.2% Fib retracement of the recent price bounce). A violation there would expose support at 0.6250. A close above 0.6319 would validate… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
