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.
Support level of 0.6808
If it breaks its support level and sustains below it then we can expect it to show further bearish movement in the pair.
STRATEGY: NZDUSD 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.
Support level of 0.6808
If it breaks its support level and sustains below it then we can expect it to show further bearish movement in the pair.
STRATEGY: NZDUSD 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.