USDNZD price has long been going through a downtrend and is now trending at 1.55 to 1.6. The price line is recently formed a static support and resistance zone and, is now bouncing in a sideway range between the mentioned zones. The red ascending line on the chart indicates the bearish trend line which is responsible for the long term bearish wave. Traders should keep a sharp eye on the chart to indicate the price line, breaking below the static support zone, or above the dynamic resistance zone, there they can enter position to the same direction.
• There is a resistance level at 1.5850 followed by resistance at 1.6000 and 1.6200.
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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