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Message: [QUOTE="Resolve, post: 237126, member: 29339"] [B][SIZE=5]NZDUSD Technical Analysis – 01st OCT, 2024 NZDUSD – Support of Channel Is Broken[/SIZE][/B] [img]https://i.imgur.com/k2yOQbr.png[/img] NZDUSD was unable to continue its bullish momentum and after touching a high of 0.6375 the prices started to decline against the United States Dollar today in the US Trading session. The Support of channel is broken in the 1-hourly timeframe. The Ichimoku: price is under the cloud in the 1-hourly timeframe. We can see Ichimoku - Bearish crossover: Tenkan & Kijun in the 1-hourly timeframe. The Bearish price crossover with Moving Average 50 is visible in the 2-hourly timeframe. We can detect Bearish price crossover with adaptative moving average 100 in the 2-hourly timeframe. The Horizontal support is broken in the daily timeframe. The prices of NZDUSD are ranging Near horizontal resistance in the weekly timeframe. The Resistance of channel is broken in the weekly timeframe. We have also detected the formation of Bearish Harami in the weekly timeframe. NZDUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving averages. • Kiwi Bearish reversal seen below the 0.6375 mark. • Short-term range appears to be Bearish. • NZDUSD continues to remain above the 0.6300 levels. • Average true range ATR is indicating Less market volatility. The next support is located at 0.6308 which is a Pivot Point 2nd Support Point. NZDUSD is now trading below its Pivot levels of 0.6321 and is moving into a Bearish channel. The price of NZDUSD remains near its Classic support levels of 0.6304 and is now moving towards its next target of 0.6296 which is a 14-3 Day Raw Stochastic at 70%. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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