NZD/USD Vulnerable, Eyes Further Weakness

Forex Trades • Oct 7, 2020 at 2:14 PM EDT

NZD/USD continues to face the risk of a further move lower after declining on Tuesday. Support lies at the 0.6550 level where a break will turn attention to the 0.6500 level.

NZD/USD continues to face the risk of a further move lower after declining on Tuesday. Support lies at the 0.6550 level where a break will turn attention to the 0.6500 level. A break of here will have to happen to create scope for a move higher towards the 0.6450 level. Further down, support resides at the 0.6400 level.

Conversely, resistance stands at the 0.6650 level. Further down, the 0.6700 level comes in as the next downside target and then the 0.6750 level. All in all, NZD/USD faces further downside pressure

(Click on image to enlarge)

Disclaimer:

All the data in this article is for information and educational purposes only. Although the information contained in this article have been compiled or arrived at from sources believed to be reliable, no representation or warranty, expressed or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the web site and its third party providers incur any responsibility. Please read the full disclaimer and term of use here.

Comments

Back to all articles

More from this Author

EURUSD Eyes Further Bull Pressure Pressure

AUD/USD Threatening Further Downside Pressure

EURUSD Halts Weakness, Further Recovery Expected