Bears gradually hauling NZDUSD to next Fibonacci support
In our previous technical analysis for the NZDUSD pair, we have suggested bearish tendencies based on the negative technical factors appeared over monthly studies.
The NZDUSD pair has declined, attempting to stabilize below the psychological level of 0.7000 as seen on the provided chart.
Bears are now hauling the pair towards 50% Fibonacci retracement of the entire upside wave from 0.4890 to the significant long-term peak of 0.8840 along with negative signs on Know Sure Thing and stronger bearish sign on Vortex.
To recap, hold on you short position, as the long-term studies are definitely bearish.