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New Zealand Dollar / U.S. Dollar
Short

NZDUSD → The currency pair is preparing to go even lower

By RLinda
Updated
NZDUSD is declining amid a strong dollar rally. The negative background for the currency pair has persisted for quite a long time and there is no reason to change this tone at the moment.

snapshot

On W1, we can clearly see the general trend on the part of strong bears, who continue to sell off the currency pair and the New Zealand dollar.
On H4 it is worth paying attention to the intermediate level of 0.5900. The breakout and subsequent price consolidation below this level will form the potential for the continuation of the decline.

Resistance levels: 0.5940, 0.6000
Support levels: 0.5900, 0.5850

Technically, we have a bearish trend and support retest, which only strengthens the bearish potential on the negative fundamental background. We are waiting for a decline to lower targets.

Regards R. Linda!
Trade active
The pair is updating the local minimum
negative fundamental background persists
Trade active
snapshot
breakdown
Note
Decline continues. prospective target 0.586
Trade closed: target reached
The first goal has been achieved
Trade active
Trade active
Consolidation below the target level. We expect the decline to continue
Trade closed: target reached
Chart PatternsconsolidationDescending ChannelDescending TriangleDXYFalling WedgeFibonacci RetracementFLATFundamental AnalysisNZDUSDSupport and ResistanceTrend Analysis
RLinda
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