GBP/NZD short for 1.9085
- Price action has slipped below 200-DMA and daily cloud
- Breaks major trendline support at 1.9315
- Momentum studies bearish, RSI sharply lower
- MACD supports downtrend and ADX is rising in support of the trend
Data Watch:
- UK employment data (Tue)
- UK CPI inflation (Wed)
- UK Retail Sales (Thur)
Support levels - 1.9087 (88.6% Fib), 1.90, 1.8909 (June 5 low)
Resistance levels - 1.9243 (78.6% Fib), 1.9304 (5-DMA), 1.9413 (200-DMA)
Stay short on upticks, SL: 1.93, TP: 1.9087/ 1.90/ 1.89
- Breaks major trendline support at 1.9315
- Momentum studies bearish, RSI sharply lower
- MACD supports downtrend and ADX is rising in support of the trend
Data Watch:
- UK employment data (Tue)
- UK CPI inflation (Wed)
- UK Retail Sales (Thur)
Support levels - 1.9087 (88.6% Fib), 1.90, 1.8909 (June 5 low)
Resistance levels - 1.9243 (78.6% Fib), 1.9304 (5-DMA), 1.9413 (200-DMA)
Stay short on upticks, SL: 1.93, TP: 1.9087/ 1.90/ 1.89
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