NZD/USD remains positive, confronts a three-week-old falling trend line. 23.6% Fibonacci retracement, 21-day SMA add to the resistance. A sustained break of 0.6200 will direct bears to August 2015 low. While following its four-day recovery moves, NZD/USD questions a short-term descending trend line resistance, currently up 0.06% at 0.6298, amid the early Thursday. With the gradually rising RSI from oversold conditions, the pullback in prices is likely to remain present. As a result, 23.6% Fibonacci retracement of the pair’s declines from December 31, 2019, to February 28, at 0.6323 will grab buyers’ attention. Given the quote’s successful trading above 0.6323, 21-day SMA around 0.6360 will be the key to watch. It should, however, be noted that the bears’ aren’t likely to lose hopes unless the pair registers a clear break of 100/200-day SMA confluence around 0.6485. On the contrary, 0.6240 and 0.6200 can offer intermediate rest ahead of the latest low near 0.6190 during the pair’s declines. In a case where the bears keep dominating past-0.6190, the year 2018 bottom close to 0.6145 will lure the sellers. NZD/USD daily chart Trend: Further recovery 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 Philippines: Inflationary pressures will likely remain modest – ANZ FX Street 2 years NZD/USD remains positive, confronts a three-week-old falling trend line. 23.6% Fibonacci retracement, 21-day SMA add to the resistance. A sustained break of 0.6200 will direct bears to August 2015 low. While following its four-day recovery moves, NZD/USD questions a short-term descending trend line resistance, currently up 0.06% at 0.6298, amid the early Thursday. With the gradually rising RSI from oversold conditions, the pullback in prices is likely to remain present. As a result, 23.6% Fibonacci retracement of the pair’s declines from December 31, 2019, to February 28, at 0.6323 will grab buyers’ attention. Given the quote’s successful trading above 0.6323,… 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.
