GBPNZD has recently bounced off the top of its range at the 1.7900 major psychological level and is making its way to the bottom at 1.7400. If this holds as support, another bounce back to the resistance could take place. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside, which means that the support is more likely to hold than to break. These moving averages could also hold as near-term inflection ...
W1 price is located to be below yearly Central Pivot at 1.9586 and above S1 Pivot at 1.6704 in the bearish area of the chart. The price is on narrow ranging within 1.7828 resistance level for the secondary rally to be started and 1.6704 first pivot support level for the bearish trend to be resumed.
Weekly price started the secondary correction within the primary bullish market condition in the beginning of December last year: price broke key levels from above to below and came to be very close to the key reversal support level breaking Ichimoku cloud together with Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price is ranging within the following key s/r levels 2.3073 key resistance level located near ...
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