NZD/CAD Bearish Continuation
On the 4hr chart, the NZD/USD seems to have resumed its downtrend, the confirmation has been triggered when the price moved below the 0.8640 support level (psychology zone), due to the rapid dip that occurred based on the market sentiments ahead of today’s data releases.
The previous correction was at the 23.6% fib reversal level, which looks good for the bears, and watching that falls below the MAs used on the chart ascertain a strong trend in the market. If the sellers are able to keep the price lower, then, the next mark is at the early Dec 2021 support zone located at 0.8550.
So, watch out and stay close.
The previous correction was at the 23.6% fib reversal level, which looks good for the bears, and watching that falls below the MAs used on the chart ascertain a strong trend in the market. If the sellers are able to keep the price lower, then, the next mark is at the early Dec 2021 support zone located at 0.8550.
So, watch out and stay close.
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