FX.co ★ Candlestick analysis of NZD/USD for September 29

Earlier on a daily chart, the NZD/USD pair has formed the combination of candlesticks Breakaway thus indicating the downward movement.
This candlestick formed near the resistance level of 0.7415 where the bulls did not strengthen.
A breakthrough of Fibonacci correctional level of 23.6 will mean that this viewpoint is correct. In this case, the downside movement to the support level of 0.7159 should be expected. The breach of this mark will lead to the downward movement with the target to 0.6947. Nevertheless, it can be limited by Fibonacci correctional level of 50.0 near 0.7000. It is recommended to set the stop orders slightly above 0.7415, as the breakthrough of this resistance level will set a target to 0.7450 for the currency pair.