NZDUSD - Intraday - We look to Sell a break of 0.6608 (stop at 0.6626)
Price action has formed an expanding wedge formation.
We look for losses to be extended today.
Trend line support is located at 0.6540.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 0.6610, which will confirm the bearish sentiment.
Our outlook is bearish. Short term RSI has turned negative.
Our profit targets will be 0.6561 and 0.6541
Resistance: 0.6622 / 0.6650 / 0.6680
Support: 0.6610 / 0.6580 / 0.6560
Price action has formed an expanding wedge formation.
We look for losses to be extended today.
Trend line support is located at 0.6540.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 0.6610, which will confirm the bearish sentiment.
Our outlook is bearish. Short term RSI has turned negative.
Our profit targets will be 0.6561 and 0.6541
Resistance: 0.6622 / 0.6650 / 0.6680
Support: 0.6610 / 0.6580 / 0.6560
Trade closed: stop reached:
Stop loss has been hit.
