Wednesday , 6 November 2024
Home Forex NZDUSD pressing against downside support targets
Forex

NZDUSD pressing against downside support targets

As the US session works to a close and the Asian Pacific looks to restart, the NZDUSD is pushing the 61.8% retracement target at 0.60509. If the price can move back below that retracement, the low from the first hours of the trading day today down at 0.60387, followed by the low of a swing area at 0.60313, it would open the door for more downside momentum.

The low price from last week was tested and broken as the session lows today but could not be sustained.

That may give buyers some courage to bounce the pair against support with stops on a break-lower below 0.60313.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

PMI data on the agenda in Europe today

The US election continues to hog all the spotlight and things will...

The race for control of the House remains a tight one

Decision Desk HQ is reporting odds of Democrats winning the House at...

Trump reportedly heading to Palm Beach, Florida to address supporters

It's still looking like a sweep for him in all of the...

Here’s why you need to watch for the control of the House now

And the policy push that matters most for Trump is arguably that...