NZD/USD Price Analysis: Bears are lurking in critical resistance area NZDUSD Currencies Technical Analysis
The price took out last month's low last week which is a bearish development looking forward while Kiwi remains on the front side of the dominant bearish trendline and below the following resistance:
That is not to say, however, that a test of resistance cannot happen before Thursday's main event. This leaves the 0.6470s exposed. In any case, traders will be looking to the lower timeframes for signs for deceleration from the bulls that could lead to a break of 0.6200 and the 90.6191 recent lows in time to come:
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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