NZD/USD drops after taking a U-turn from the short-term resistance line. Last Wednesday’s top on the sellers’ radar, 200-HMA could question further declines. NZD/USD registers 0.50% loss on a day, currently around 0.6075, while reversing from one-week-old resistance line, previous support, during the early Wednesday. The pair’s sustained trading below the support-turned-resistance keeps directing sellers towards the previous Wednesday’s top around 0.6030. However, the pair’s further downside could be restricted by a 200-HMA level of 0.6005, if not then 61.8% Fibonacci retracement of the pair’s current month upside, near 0.5950, will lure the bears. Meanwhile, 0.6100 can offer immediate resistance ahead of another attempt to challenge the support-turned-resistance, at 0.6116 now. Should there be a successful break above 0.6120, the latest high surrounding 0.6130 and the further rise to 0.6200 can’t be ruled out. NZD/USD hourly chart Trend: Pullback expected 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 Bitcoin Technical Analysis: BTC/USD has two strong resistance levels at $6,915 and $7,200 – Confluence Detector FX Street 2 years NZD/USD drops after taking a U-turn from the short-term resistance line. Last Wednesday’s top on the sellers’ radar, 200-HMA could question further declines. NZD/USD registers 0.50% loss on a day, currently around 0.6075, while reversing from one-week-old resistance line, previous support, during the early Wednesday. The pair’s sustained trading below the support-turned-resistance keeps directing sellers towards the previous Wednesday’s top around 0.6030. However, the pair’s further downside could be restricted by a 200-HMA level of 0.6005, if not then 61.8% Fibonacci retracement of the pair’s current month upside, near 0.5950, will lure the bears. Meanwhile, 0.6100 can offer immediate resistance… Top 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.
