The support level for the NZD/USD currency pair is now being tested. The price has broken through the level, but it is now moving back in the direction of trading above the level.
Alternately, the price may break through the support structure located at the first support and fall to the second support.
0.61530 serves as support while 0.62170 serves as resistance. Currently the price is below the Pivot Point at 0.61940. The EMAs of 100 and 200 are moving downward, the EMA of 10 is showing a downtrend. The Stochastic oscillator is showing a downtrend. The RSI is moving toward the 30 mark. The MACD histogram is in negative zone with the signals going downward. ADX is not showing a clear signal.
The price is under the Ichimoku Cloud and the Chinkou Span is far away the market price. The Tenkan-sen and the Kijun-sen are moving downward.
• There is resistance at 0.62170, followed by resistance at 0.62580 and 0.62810.
• There is support at 0.61530 Below, there is 0.61300 and 0.60890.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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