NZD as a currency is being extremely bearish and the sentiment is nowhere near change, meaning that the Kiwi won't find significant buying support soon, provided that current economic environment will stay as it is.
Fundamentally speaking, USD could probably rise as recent stimulus talks seem to be in vain.
On the technical side, Kiwi violated the big bear flag (seen below), by came back in range due to momentum lack. However it helped us notice an obvious descending channel that obviously will give confidence to sellers. For the time being, I expect a bearish continuation that can possibly end at the lower limit of the channel before see a bullish correction.
In simpler terms, all we see now is a correction and that NZDUSD has room to fall.
Fundamentally speaking, USD could probably rise as recent stimulus talks seem to be in vain.
On the technical side, Kiwi violated the big bear flag (seen below), by came back in range due to momentum lack. However it helped us notice an obvious descending channel that obviously will give confidence to sellers. For the time being, I expect a bearish continuation that can possibly end at the lower limit of the channel before see a bullish correction.
In simpler terms, all we see now is a correction and that NZDUSD has room to fall.
Comment:
4H aspect of the price
Comment:
NZD in an indexed version showing strong bearish formation
www.mataf.net/assets...wGB0ci_ucd_kwYahs12M
www.mataf.net/assets...wGB0ci_ucd_kwYahs12M
Trade closed manually
