It's likely that the NZDUSD continues to move lower in the near term.
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- The price has broken 0.7550 support zone , which turns now to a resistance that could limit the upside.
- The price has broken the rising trend line for the latest main bullish correctional wave
- The 50 days simple moving average was taken as well.
- Breaking back above 0.7575 with stability could negate this scenario
- Downside targets are illustrated on chart
Good luck
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The massively dovish RBNZ statement should support this bearish scenario. I think breaking the yearly low is not far off.
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