- Analytics
- News and Tools
- Market News
- NZD/USD Price Analysis: Bears in control and eye break of critical structures
NZD/USD Price Analysis: Bears in control and eye break of critical structures
- NZD/USD is weakening and bears are in control.
- NZD/USD bears are eyeing key trendline supports and structures.
NZD/USD is down on the day and heading toward key trendline support. At the time of writing, NZD/USD is trading at 0.6234 having traveled between a low of 0.6230 and a high of 0.6254. The following illustrates the series of breaks in structure and the prospects of a downside correction.
NZD/USD daily chart
The price has been slicing through various levels of structure over the course of the year and 0.6064 is eyed on a break of the dynamic trendline support.
NZD/USD H1 chart
From an hourly perspective, 0.6220 and 0.6200 are key structures should the bears manage to keep control below what will be considered as counter-trendline resistance.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
