New lows for the NZDUSD. Looks toward lower trend line target now

Technical Analysis

Run lower continues for the pair 

The NZDUSD is running to yet another new low. 

The journey to the downside started after a move above the 100 hour MA failed in the Asiian session. The run continued below the 200 hour MA (green line) and trend line, and then another trend line at 0.6848 (risk now for shorts).

The pair is approaching a lower trend line at 0.6832 which should give traders cause for pause. That trend line was last tested on Monday. The 50% of the move up from the Jan 22 low comes in at 0.68239.  Risk is h

Sellers in the NZDUSD have been helped by a similar tumble in the AUDUSD on the back RBA Lowe saying policy was more neutral.  

ForexLive

Products You May Like

Articles You May Like

Big Earnings, Rate Decisions and US GDP once markets return from holiday
Top execs at American weed retailer MedMen quit amid ex-CFO’s claims of financial duress
US weekly oil inventories -1396K vs +2300K expected
Simplest 4 Hour Chart Forex Strategy EVER With Michael Storm, Trader
Does success on Jeopardy translate into success as a trader?

Leave a Reply

Your email address will not be published. Required fields are marked *