Multiple downward sloping trend-line portrays NZD/USD weakness. 10-week old support-line grabs bears’ attention. In addition to a two-day long descending trend-line, the NZD/USD pair’s sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday. With this, 10-week old upward sloping trend-line near 0.6500 becomes an immediate concern for sellers ahead of watching over the May month low of 0.6481. However, pair’s further declines could be confined by oversold levels of 14-bar relative strength index, if not then October 2018 bottom surrounding 0.6425 can please the bears. On the contrary, 0.6533 and 0.6570 are two trend-line resistances that can hold the pair’s short-term upside confined. In a case prices rally beyond 0.6570, 61.8% Fibonacci retracement of May – July upside, at 0.6600. NZD/USD 4-hour chart Trend: Bearish 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 German 30-year yield drops below zero for the first time ever FX Street 4 years Multiple downward sloping trend-line portrays NZD/USD weakness. 10-week old support-line grabs bears' attention. In addition to a two-day long descending trend-line, the NZD/USD pair's sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday. With this, 10-week old upward sloping trend-line near 0.6500 becomes an immediate concern for sellers ahead of watching over the May month low of 0.6481. However, pair's further declines could be confined by oversold levels of 14-bar relative strength index, if not then October 2018 bottom surrounding 0.6425 can please the bears. On the contrary,… 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.
