KIWI Trying to Resume Its Downtrend, 0.61000 Level In Sight !
Kiwi was not performing against the USD that good last year and this year might be the same case scenario too.
Have look at the above Monthly charts picture for NZDUSD. There are numerous long term trendlines one of which was broken a few months ago signalling the kiwi headed south towards another long term trendline located at around 0.61000 level!.
The main chart is the daily version showing that there is ascending trendline developing and if in the coming days it breaches the kiwi might head south. Basically it seems its just a consolidation move before the downtrend starts to resume. Shall there be any updates i will provide them below in the comments. any trade set up would be provided too together with entry, sl and tp levels.
cheers happy trading
Have look at the above Monthly charts picture for NZDUSD. There are numerous long term trendlines one of which was broken a few months ago signalling the kiwi headed south towards another long term trendline located at around 0.61000 level!.
The main chart is the daily version showing that there is ascending trendline developing and if in the coming days it breaches the kiwi might head south. Basically it seems its just a consolidation move before the downtrend starts to resume. Shall there be any updates i will provide them below in the comments. any trade set up would be provided too together with entry, sl and tp levels.
cheers happy trading
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