EDGE Chart of the Day – NZDUSD- (October 18th, 2023)

<div><p><div><h2 itemprop="headline">The Kiwi is pressured</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The NZDUSD has broken a key horizontal support at the .5860 level today and has tested the 127% extension of the recent range (end of August to present) at .5815. This is also previous resistance back from October 2022. A move below the .5816 would put the long term 78% retracement and 161% Fibonacci extension at .5732 as the next downside target.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10872" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38.png" alt="" width="1467" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38.png 1467w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38-400×229.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38-800×458.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38-768×439.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38-705×403.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/NZDUSD_2023-10-19_13-52-38-450×257.png 450w" sizes="(max-width: 1467px) 100vw, 1467px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">&#8220;Chart of the Day&#8221;</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
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<p>The post <a rel="nofollow" href="https://www.forexanalytix.com/blog/chart-of-the-day-oct-18th-2023/">EDGE Chart of the Day &#8211; NZDUSD- (October 18th, 2023)</a> appeared first on <a rel="nofollow" href="https://www.forexanalytix.com/blog">ForexAnalytix – Blog</a>.</p>