Weekly Technical Analysis Report 7 July – Bearish outlook on NZDUSD
July 7, 2023
Weekly Technical Analysis Report 7 July – Bearish outlook on NZDUSD
1. This week’s outlook on NZDUSD: Bearish outlook seen
On H4 timeframe, price has recently rejected off from a key resistance zone at 0.6200 and broke below an ascending trendline. A pullback to resistance zone at 0.6200, which coincides with 78.6% Fibonacci retracement, could provide the bearish acceleration towards the next support zone at 0.6080, which is in line with the 241.4% Fibonacci extension.
Bearish Outlook on NZDUSD – 7 July 2023 by Salzworth on TradingView.com
