NZD/USD moving lower rejecting the downtrend trend line as well as the 200 Moving Average. This might suggest that it is facing strong resistance area and sellers could start dominating once again at this point.
Consider selling NZD/USD at the current rate (0.7040), targeting either 161.8% (0.6925), 261.8% (0.6825) or 361.8% Fibs (0.6726). Suggested stop loss is 0.7085.
Support: 0.6985, 0.6925, 0.6825
Resistance: 0.7085
From www.instaforex.com http://ift.tt/2gHeTrU
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