FX.co - NZD/USD broke past support, potential further drop!

2019-07-31T04:49:57

Relevance until2019-08-01

Price broke past its major support turned resistance where we expect to see a further drop to its 1st support.

Entry: 0.6597

Why it's good : major support turned resistance

Stop Loss : 0.6640

Why it's good : 23.6% Fibonacci retracement

Take Profit : 0.6516

Why it's good: 76.4% Fibonacci retracement, horizontal swing low support

NZD/USD broke past support, potential further drop!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ NZD/USD broke past support, potential further drop!