The secondary trend of NZDUSD
is sideways on charts. In its hourly chart, the pair has given break out of its rising channel
indicating the downside movement in the market. It is not sustaining at higher levels and consolidating with strong negative bias to give break out at downside. Its 30 DMA is also supporting the upcoming bearish trend
in the pair.
If it breaks its support level
and sustains below it then we can expect it to show further bearish
movement in the pair.
is looking bearish
on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.