NZD/USD Downside Momentum Targets M L3 and Below

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The NZD/USD failed to hold above 0.6325 despite not-so-dovish governor Orr. We should see a bearish continuation towards lower targets.

Failure to hold above 0.6325 is very bearish for the pair. A rejection off the POC zone targets 0.6279 and 0.6224. There is a potential for more downside due to the confluence of W L4/ Wizz 4 at 0.6182 so that is the final target that might possibly be achieved next week. We need to see a break below 0.6260 and the price will gain additional bearish impulse in a form of a breakout trade.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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