NZD/USD Bears Target Deeper Correction Amid US Dollar Strength
In the daily time frame, 
NZDUSD has entered a corrective phase following a significant uptrend that began in mid-July. After climbing steadily, the pair is now showing signs of weakness, as sellers attempt to capitalize on the recent reversal.
TheNZDUSD pair is facing strong selling pressure as the US dollar gains strength, with sellers eyeing deeper support levels at 0.62175 and 0.61996. A sustained break below these levels could lead to further declines toward 0.61739 and potentially 0.61257.
However, a break above 0.62518 would shift the outlook and set the stage for a recovery toward 0.63148 and beyond.
Traders should remain alert to key US economic data releases, as any surprise in the jobless claims orUSBCOI ISM non-manufacturing PMI could lead to significant moves in the pair. The path forward for NZD/USD remains dependent on the balance between Fed policy expectations and global risk sentiment.
Read the full article here: https://erranteacademy.com/nzd-usd-bears-target-deeper-correction-amid-us-dollar-strength/
NZDUSD has entered a corrective phase following a significant uptrend that began in mid-July. After climbing steadily, the pair is now showing signs of weakness, as sellers attempt to capitalize on the recent reversal.The
NZDUSD pair is facing strong selling pressure as the US dollar gains strength, with sellers eyeing deeper support levels at 0.62175 and 0.61996. A sustained break below these levels could lead to further declines toward 0.61739 and potentially 0.61257. However, a break above 0.62518 would shift the outlook and set the stage for a recovery toward 0.63148 and beyond.
Traders should remain alert to key US economic data releases, as any surprise in the jobless claims or
USBCOI ISM non-manufacturing PMI could lead to significant moves in the pair. The path forward for NZD/USD remains dependent on the balance between Fed policy expectations and global risk sentiment.Read the full article here: https://erranteacademy.com/nzd-usd-bears-target-deeper-correction-amid-us-dollar-strength/
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