Technical analysis of NZD / USD 07/15/2020

The NZD / USD currency pair is in upward movement on the Daily chart. The pair found resistance at 0.6600 and is currently consolidating around 0.6500. Technical analysis suggests that the pair will continue to decline as part of the downward correction. The first support level is 0.6330 (coincidence of MA200 and 23.6% Fibo). If quotes go lower, the next level of support will be the zone of the level of 0.6170 (coincidence of MA100 and 38.2%). Continued decline is confirmed by a discrepancy in the RSI indicator. Cancellation of the development option of a downward correction will be the growth and breakdown of the level of 0.6600.

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