Hello, i was strongly bullish last month when price touched the 0.65 level. Now i think the time is over to expect a deeper correction. This pair should continue to fall after expected and INMINENT NZD rate cut and USD will recovery recovery for sure nexts days/weeks. But its tricky to find an entry point.
Totally agree FulltimeTrader, this downwards momentum with both NZD and AUD has been amazingly strong! I expected to see a reversal from the 0.65 myself, but the USD perfromed very strongly against the NZD lately, I am now shifting my bias. Last weeks push upwards will make many retail traders go long, I don't trust it. Also, I have a bearish bias from a technical perspective on other NZD pairs as well, so that gives me enough confidence to short this one.