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NZDUSD: Sells Off, Resumes Downside Pressure

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Dollar New Zealand / Dollar AS (FX_IDC:NZDUSD)  
FXTechstrategy  
FX_IDC:NZDUSD   Dollar New Zealand / Dollar AS
Trend Analysis Chart Patterns Technical Indicators dailyanalysis nzdusddaily
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trendanalysis chartpattern indicator dailyanalysis nzdusddaily
NZDUSD: The pair continues to face downside pressure selling on Tuesday and leaving risk lower in the days ahead. Support lies at the 0.7200 level. Further down, the 0.7150 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 0.7250 level where a break will aim at the 0.7300 level. A break of here will have to occur to create scope for a run at the 0.7350 level. Further out, resistance stands at the 0.7400 level. All in all, NZDUSD faces further downside pressure.
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