Get started
KaltoireCapital

NZD/USD: A decline towards 0.64 is back in the picture

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
KaltoireCapital  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis NZDUSD nzdusdshort nzdusdlong nzdusdtrade nzdusdanalysis nzdusddaily nzdusdsell
95
12
trendanalysis chartpattern beyondta nzdusd nzdusdshort nzdusdlong nzdusdtrade nzdusdanalysis nzdusddaily nzdusdsell
NZD/USD Bulls have failed to break the 0.6580 Resistance level and price has pulled back strongly from that level. If the bulls are unable to take that resistance out, the path of least resistance will be to the downside towards 0.64.

Eventually, I expect NZD/USD to slide back towards the 0.60 level as geopolitical risks and worsening global economic conditions will weigh on the NZ Dollar.

Selling the rallies remains the best approach to trade this pair
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.