NZD/USD has broken major support, prepare to sell

The price has broken our major support-turned-resistance level at 0.7258 and we prepare to sell below this resistance level (Fibonacci retracement, horizontal pullback resistance) for a further push down following our bearish channel momentum to at least 0.7196 (Fibonacci extension, horizontal swing low support).

RSI (21) sees resistance at 63% and also a recent bearish exit signaling that we're expecting more bearish momentum.

Sell below 0.7258. Stop loss is at 0.7286. Take profit is at 0.7196.


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