Analyzing the Recent Decline in NZD/USD and the Challenge of Overcoming 20-Day SMA Resistance
Monday, 15 July 2024, 19:35
Analysis:
The NZD/USD pair encountered a decline of 0.60% on Monday, reaching 0.6080.
Challenges:
- Bulls are facing resistance at the 20-day SMA level.
Traders are closely monitoring the price action for signs of a potential reversal.
Conclusion:
- Resistance at the 20-day SMA could signal a bearish continuation if not surpassed by bulls.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.