NZDUSD 2023 07 07 15 00 26 8e433

Weekly Technical Analysis Report 7 July – Bearish outlook on NZDUSD

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

Salzworth Asset Management