The NZDUSD keeps refreshing new lows
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 100 pips | Max. 0.6800
Min. 0.6600 |
The New Zealand dollar kept falling against the USD after a small correction up from 0.6745 support. The uptrend halted at 0.6810, and the price turned down.
The breakout of 0.6745 support allowed the bears to proceed towards the lower border of the descending channel at 0.6675, where from the price can correct to the next closest resistance of 0.6745.
The NZD keeps a steady downtrend. We recommend to enter trades for selling after corrective pullbacks up.
Alternative scenario: the breakout of 0.6745 resistance will open the way to the descending trend line at 0.6790 – 0.6800.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!
The NZDUSD keeps refreshing new lows
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 100 pips | Max. 0.6800
Min. 0.6600 |
The New Zealand dollar kept falling against the USD after a small correction up from 0.6745 support. The uptrend halted at 0.6810, and the price turned down.
The breakout of 0.6745 support allowed the bears to proceed towards the lower border of the descending channel at 0.6675, where from the price can correct to the next closest resistance of 0.6745.
The NZD keeps a steady downtrend. We recommend to enter trades for selling after corrective pullbacks up.
Alternative scenario: the breakout of 0.6745 resistance will open the way to the descending trend line at 0.6790 – 0.6800.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!