NZDUSD meets support at 38.2% Fibo

From xm.com

NZDUSD had been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, surging to a six-month high of 0.6220 in June. However, the pair has come under severe selling pressure since then, with the 200-day simple moving average (SMA) preventing further declines for now. Should the bears attempt to push the price lower, immediate support could be found at 0.6048, which is the 38.2% Fibonacci retracement of the 0.6368-0.5851 downleg. Lower, the 23.6% Fibo of 0.5972 could provide downside protection. A violation of that zone could open the door for the 2024 low of 0.5851. Alternatively, if the pair ... (full story)