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NZDUSD is in a bearish trend making lower lows and lower highs. Price is now at 0.662 and yesterday we saw it breaking below the major 38% Fibonacci retracement of the entire upward movement from 0.5465 to 0.746.
NZDUSD is in a corrective pull back relative to the big rise from 0.5465. In the near term bears are in control of the trend. Breaking below the 38% Fibonacci level is a sign of weakness. This increases the chances of price breaking towards the 50% Fibonacci retracement support at 0.6465. Recent high is at 0.6885. As long as price is below this level, short-term trend will remain bearish.¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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