Recession Probability Dumped NZD
In the 4-hour and daily timeframe, FRVP shows the $0.6230 level as a critical support. At the same time, we see that it has been in the ascending channel since the beginning of March and is currently breaking the lower support of the channel. The fact that the sub-support of the channel and the FRVP support are in the same region increases the risk level of this region. The prospect of New Zealand's possible recession has pushed the NZD below this risk level. In such a scenario, it is possible to see $0.60 levels.
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