HomeContributorsTechnical AnalysisNZD/USD: Extends Bearish Pressure On Price Sell Off

NZD/USD: Extends Bearish Pressure On Price Sell Off

NZDUSD extends bearish pressure on price sell off with more decline expected towards 0.6800 support. Further down, support stands at the 0.6750 level. Further down, the 0.6700 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.6850 level where a break will turn attention to the 0.6900 level. A break of here will have to occur to create scope for a move towards the 0.6950 level. Further out, resistance stands at the 0.7000 level. All in all, NZDUSD faces further downside pressure on sell off.

FXAssure
FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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