NZD/USD Price Analysis: Bears about to reengage for another push to fresh lows NZDUSD Technical Analysis
NZD/USD was embarking on a run to test a 50% mean reversion level of the prior bearish impulse as follows:0.6120 was eyed as the -272% Fibo in this regard while 0.6100 and 0.6080 came as the next levels of interest. NZD/USD bears have moved in and pierced the 0.6161 structure to open the gates for further downside for the sessions ahead.
We can see the break in the structure and given the current daily wick, it can be expected to be filled in on the lower time frames as follows:The 0.6180 structure is the line in the sand and a break of this will likely firm up the likelihood of a continuation to the downside to filling the wick and break to fresh lows. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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