What’s Flowing: NZDUSD
The NZDUSD pair continues its downward trajectory, respecting the established bearish trend. Key resistance zones near 0.5860 and 0.5905 are capping any upward movements, while sellers maintain control. Support levels around 0.5770 are acting as a key target area for further downside potential.
The price remains below the moving averages, reinforcing bearish sentiment. Recent attempts to push higher have been met with selling pressure, with price action consolidating near the lower bound of the range. Traders should watch for a potential breakout below 0.5770 to confirm continued bearish momentum.
Market participants should stay cautious of any reversal signals near the support zones, but overall, the flow favors the downside for NZDUSD in the short term.
The price remains below the moving averages, reinforcing bearish sentiment. Recent attempts to push higher have been met with selling pressure, with price action consolidating near the lower bound of the range. Traders should watch for a potential breakout below 0.5770 to confirm continued bearish momentum.
Market participants should stay cautious of any reversal signals near the support zones, but overall, the flow favors the downside for NZDUSD in the short term.
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