NZD/USD Strong Downtrend in Progress

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The NZD/USD has formed a rounded top that cues for the price to proceed further down. We might see new lows very soon.

The Rounded top that has been formed around 0.6450 zone is progressing. A retracement to the POC zone 0.6315-30 will probably show some fresh sellers. Targets are 0.6279, 0.6263, 0.6224. A strong momentum should make the price break M L3 camarilla pivot next week and we could see 0.6190. I will be looking to sell on rallies as the price still has the room for more downside.

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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