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Mihai_Iacob
Sep 29, 2020 4:01 PM

NzdUsd at confluence resistance Short

New Zealand Dollar/U.S. DollarFXCM

Description

The things are clear fo NzdUsd, after the double top at 0.68, the pair dropped to 0.65 support and now is in a small recovery...
The pair is facing strong confluence resistance now (neckline and trend support, now resistance) and I believe a new leg down is on cards for Kiwi for the next sessions.
The first target for sellers is 0.65 support but the pair can drop further to 0.64 important support
Comments
Itumeleng90
fully agree, prior move of the double top, price broke my two uptrend support lines, then broke again the current resistance which was previously support, it is now being retested and im confident the price will fall...and hard. thanks and hoping for the best
Mihai_Iacob
@Itumeleng90, thanks for comment
Gecco0
Your analysis is spot on
Mihai_Iacob
@Gecco0, thank you!
Now let s see if the market will agree with me also:)
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