NZD/USD:Pullback on Bearish resistance trendline - Short setup

2 Agu 2022

The NZD/USD, After a consistent retracement has yesterday a Pullback on the Dynamic trendline of the bearish channel and also this currency pair today show signals to continue the downtrend general had un the lasts months. The price also shows a rejection between the 50 and 61.8% Fibonacci and the Stochastic seems ready to drop from the Overbought levels to the normal range. There is also a divergence in this scenario. The level of price of 0.6200 seems a good target where the price can drop.