NzdUsd could probably break support
The long-term trend for NzdUsd is clearly bearish and the recent rise started in November was just a correction with a high around the 0.65 zone and a clear resistance at 0.64 and the pair trading in the range starting in March.
The recent rally from 0.6050 support was anemic in comparison to other USD counterparts and suggests a very weak NZD.
A break under support is very probable at this moment and a new test of 0.56 low could follow in the next months.
That being said, I'm looking to sell rallies with negation above the 0.62 zone
The recent rally from 0.6050 support was anemic in comparison to other USD counterparts and suggests a very weak NZD.
A break under support is very probable at this moment and a new test of 0.56 low could follow in the next months.
That being said, I'm looking to sell rallies with negation above the 0.62 zone
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