2024-12-19 19:39
IndustryNZD/USD: Should continue to fall
NZD/USD fell strongly on Wednesday, breaking below our preset short target of 0.5670 and moving further in the downtrend channel with the next short target looking at 0.5560.
At the same time, the 50-period exponential moving average continues to put downward pressure on the NZD/USD, supporting the view of a continued decline. However, if it can break above 0.5675, then the NZD/USD is likely to rise for a while, but resume the downtrend after retesting the upper resistance of the uptrend channel at 0.5815.
Today I expect NZD/USD to trade between 0.5570 and 0.568.
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NZD/USD: Should continue to fall
Hong Kong | 2024-12-19 19:39
NZD/USD fell strongly on Wednesday, breaking below our preset short target of 0.5670 and moving further in the downtrend channel with the next short target looking at 0.5560.
At the same time, the 50-period exponential moving average continues to put downward pressure on the NZD/USD, supporting the view of a continued decline. However, if it can break above 0.5675, then the NZD/USD is likely to rise for a while, but resume the downtrend after retesting the upper resistance of the uptrend channel at 0.5815.
Today I expect NZD/USD to trade between 0.5570 and 0.568.
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