Can NZDUSD Hold This?

NZDUSDH1 01.08.17

The New Zealand Dollar seems to be struggling to remain above the 0.7500-20 support against the US Dollar.
The NZDUSD pair is also finding it hard to stay above the 100 hourly simple moving average, and currently approaching a monster bullish trend line at 0.7485 on the hourly chart.
There were two failures recently near the 61.8% Fib retracement level of the last decline from the 0.7557 high to 0.7460 low at 0.7520. So, there is a chance of NZDUSD breaking the trend line support at 0.7485 in the near term. On the other hand, if there is no break, the pair could retest the 0.7520 level.

Leave a Reply