Tend Still Bearish NZDUSD, Beware of resistance at 0.6445

Based on 4-hour chart, the bearish bias is still visible, especially for the price moves below the signal MA 50-100-200. However, in the short term prices may rise because Stochastic indicator moving upwards.

For the upside, closest resistance levels seen at 0.6445 area, breaking through to the top of the area the price is likely to move along at least neutral instructions to test the 0.6515 area before targeting to an area of strong resistance at 0.6555. If the price failed to break into the top of the area of 0.6445, the price can move to bearish testing 0.6310 area which is the nearest support level, breaking down the back of price 0.6310 area should be able to continue the bearish movement to test the 0.6255 area before targeting 0.6200 area.


Resistance levels: 0.6445, 0.6515, 0.6555
Support levels: 0.6310, 0.6255, 0.6200