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

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