NZDUSD looks bearish in medium-term; holds below downtrend line

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NZDUSD looks bearish in medium-term; holds below downtrend line

NZDUSD is struggling to gain strong positive momentum after its fast rebound from the 16-month low of 0.6524, stalling around the 20-day SMA, which overlaps with the 23.6% Fibonacci retracement level of the downward move from 0.7220 to 0.6524 at 0.6687 and within the 0.6700 psychological level. The flattening mode in the RSI in the […]

The post NZDUSD looks bearish in medium-term; holds below downtrend line appeared first on Action Forex.

Source: NZDUSD looks bearish in medium-term; holds below downtrend line