Technical Analysis – NZDUSD drops below 23.6% Fibonacci; holds in trading range in short term
Posted on August 2, 2018 at 7:03 am GMTNZDUSD has come under renewed selling pressure over the last couple of days, falling back below the 23.6% Fibonacci retracement level of the downleg from 0.6686 to 0.7060, around 0.6775. Also, the pair is touching the lower Bollinger Band, however, it has not posted a fresh lower low, which makes one hesitant to trust further declines for now. It is worth mentioning that the price has been holding within a trading range since early July with upper boundary the 0.6850 resistance and lower boundary the 0.6712. [..]