Previous view: Odds of a bear continuation are medium, stay bearish and sell at any high point while prices don't pull out from the support zone or 0.69000 top level.
Actual outcome: Prices broke a support zone and are still subjected to a bear pressure. The odds of a bear continuation are medium/high with tiny chances of a reversal driving the price higher.
Possible targets : @0.68000 (+50pips) and @0.67250 (+120pips).
Advice : Stay bearish and sell at any high point while prices don't pull out from the support zone or 0.69000 top level.
Correlated pairs : NZDUSD (91.7%) and EURNZD (-84.6%). We are more likely to experience a bear run continuation with the NZDUSD pair. In another hand, EURNZD stays bullish.
Every AUD/something pair is being oversold as fuck right now, but when will it end haha. Just because RBA cut its rates doesn’t mean Fed won’t too, it’s coming, have everyone forgotten that? We’re reaching historical lows on this one, even though American economy isn’t going that great anymore. But yeah you’re right, with this pace it will reach year’s low after a couple of small corrections, sadly