NZDUSD : THE KIWI UNDER PRESSURE
- Since its last high peak around 0.6370 at the end of 2023, the NZDUSD has been trading in a bearish channel. The medium-term trend is therefore bearish.
- This decline has recently accelerated after the second impact of the market below the upper limit of the channel, at 0.6207.
The market broke a very short-term uptrend line (dotted lines), ending a bullish correction and propelling prices to a new low.
The 2 moving averages are widening and reversing on the downside, while the DMI indicator demonstrates an increasing selling pressure in an increasingly directional movement.
- This is a situation of bearish continuation.
Indeed, the end of the consolidation has unlocked new bearish potential for the market.
New targets are found around 0.5900 and 0.5850.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
- This decline has recently accelerated after the second impact of the market below the upper limit of the channel, at 0.6207.
The market broke a very short-term uptrend line (dotted lines), ending a bullish correction and propelling prices to a new low.
The 2 moving averages are widening and reversing on the downside, while the DMI indicator demonstrates an increasing selling pressure in an increasingly directional movement.
- This is a situation of bearish continuation.
Indeed, the end of the consolidation has unlocked new bearish potential for the market.
New targets are found around 0.5900 and 0.5850.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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