The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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NZDUSD as we said in previous posts was showing reversal signs to the upside. However there was no follow through and no continued sign of strength. Price was mostly moving sideways forming a consolidation the last few weeks. Now price is showing the appetite to move lower and break below recent lows.
Red lines -Fibonacci extension targets
Support is at 0.69. Breaking below this level will activate our bearish targets. First target is at 0.6825 and second target is at 0.6690. As long as price is below 0.7055 we remain pessimistic for the coming weeks in NZDUSD. Failure to stay above 0.69 will be a key bearish signal. Bears are in control of the short-term trend but need confirmation of their strength by breaking below 0.69.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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