NZD/USD inside a bullish area

NZD/USD inside a bullish area

2019-11-11 • Updated

NZD/USD is hovering inside a strong demand zone established between the 0.7306 and 0.7267 levels, which should bring further rebounds in order to resume the bullish structure towards the Fibonacci target of -23.6% in the 0.7498 level. To the downside, the support zone of 0.7267 could give up in order to allow losses toward the 100% Fibo area at 0.7175.

RSI indicator remains in the negative territory, favoring for another leg lower in the short-term.

NZDUSDH1.png

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