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Kiwi is Below the Trend Line

FTD Limited by FTD Limited
December 22, 2020
Reading Time: 1 min read
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Kiwi is Below the Trend Line
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NZDUSD Hourly Chart, 200-Hour Moving Average
NZDUSD Hourly Chart, 200-Hour Moving Average

NZDUSD broke the bullish trend which was supporting the upward moves since the middle of November. Kiwi is currently trying to stabilize between a 200-hour moving average and 0.70 support. If 200 MA continues to pressure the NZDUSD, upward moves may create selling opportunities. Below 0.70, Fibonacci %61.8 and %76.4 levels can be followed as supports in the short-term.

Daily closes over 200 MA can change the general direction of the kiwi and the local top of 0.7171 can be a good target for upside moves.

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    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

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