NZD/USD slipped to a fresh monthly low (0.5959) after struggling to close above 0.6070 (61.8% Fibonacci extension), and a move/close below the 0.5920 (61.8% Fibonacci extension) to 0.5930 (78.6% Fibonacci extension) region may lead to a test of the May low (0.5847).
Next area of interest comes in around 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension), but NZD/USD may attempt to retrace the decline from the monthly high (0.6088) should it defend the advance from the May low (0.5847).
Need a close above 0.6070 (61.8% Fibonacci extension) to bring 0.6170 (50% Fibonacci extension) on the radar, with the next area of interest coming in around 0.6230 (50% Fibonacci extension) to 0.6260 (38.2% Fibonacci extension).
--- Written by David Song, Senior Strategist at FOREX.com
Next area of interest comes in around 0.5740 (78.6% Fibonacci retracement) to 0.5760 (100% Fibonacci extension), but NZD/USD may attempt to retrace the decline from the monthly high (0.6088) should it defend the advance from the May low (0.5847).
Need a close above 0.6070 (61.8% Fibonacci extension) to bring 0.6170 (50% Fibonacci extension) on the radar, with the next area of interest coming in around 0.6230 (50% Fibonacci extension) to 0.6260 (38.2% Fibonacci extension).
--- Written by David Song, Senior Strategist at FOREX.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.