Immediate horizontal-line, 61.8% Fibonacci retracement level and 1-week old descending trend-line challenge NZD/USD upside. May month low near 0.6480 becomes bears’ favorite. Despite bouncing off 0.6534 after China’s better than forecast Caixin Manufacturing PMI data, NZD/USD is yet to clear immediate horizontal-resistance as it trades near 0.6558 during early Thursday. The July 10 low and previous candle high forms nearby horizontal-line that limits the pair’s immediate upside around 0.6567/68, a break of which can extend the recovery towards 61.8% Fibonacci retracement of May-July upside around 0.6600 and then to a weeklong descending trend-line, at 0.6613. If at all prices manage to cross 0.6613, 50% Fibonacci retracement near 0.6637 and 0.6655/56 should on buyers’ radar. Alternatively, 0.6530 and 0.6500 can offer immediate supports to the pair ahead of highlighting May low near 0.6480 and the October 2018 bottom surrounding 0.6425. 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 Mexico’s Finance Ministry lowers annual GDP growth projection for 2019 to 1.1% – Reuters FX Street 4 years Immediate horizontal-line, 61.8% Fibonacci retracement level and 1-week old descending trend-line challenge NZD/USD upside. May month low near 0.6480 becomes bears' favorite. Despite bouncing off 0.6534 after China's better than forecast Caixin Manufacturing PMI data, NZD/USD is yet to clear immediate horizontal-resistance as it trades near 0.6558 during early Thursday. The July 10 low and previous candle high forms nearby horizontal-line that limits the pair's immediate upside around 0.6567/68, a break of which can extend the recovery towards 61.8% Fibonacci retracement of May-July upside around 0.6600 and then to a weeklong descending trend-line, at 0.6613. If at all prices manage… 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.
