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NZD/USD is under pressure and expected to continue its downside movement. The pair remains capped by its falling trend line, and is likely to post a new pullback. Both the 20-period and 50-period moving averages are heading downward, and should continue to push the prices lower.
To sum up, as long as 0.7270 is resistance, likely decline to 0.7210 and 0.7190 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7295, 0.7320, and 0.73650.
Support levels: 0.7210, 0.7190, and 0.7150.
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