The NZD/USD
has dropped to seven month lows after the Reserve Bank of New Zealand said that
the current levels of the Kiwi are unjustified and unsustainable. That is why
we have seen the pair gain more bearish momentum, especially after it broke
below the 0.8300 level. The pair is now free to keep falling to the 200 Week
Exponential Moving Average around the 0.8063. The price has already bounced
from that zone; therefore another visit to the same area could give us another
bounce to the upside.
Interesting analysis, thanks.
ReplyDeleteA break 0.8224 could force NZDUSD to the Year low 0.8050 and looks like is going in the right direction.
ReplyDeleteGreat analysis, thank you!
ReplyDeleteVery informative! Thanks.
ReplyDeleteUSD is now very strong
ReplyDeletegreat post
ReplyDeleteGood post.
ReplyDeleteAwesome. Thanks for the info!
ReplyDeleteGood analysis.
ReplyDelete