NZDUSD: Major Drop Incoming (-18%+)
Hello everyone, this is my analysis for NZDUSD;
- NZD has been very fundamentally weak due to the global pandemic.
- Recently price broke a strong trend-line and support (highlighted as red). Later, price broke another trend-line downwards and reversed from the 5.6000 key level; currently it is being re-tested.
- There is potential for the price to continue downwards from this area, or possibly climb back to around the 6.2000 key area and continue to the next support (4.9000 area).
- Thank you for dropping by and checking out my idea!
- If you support my view, a like would be highly appreciated. Otherwise, feedback and suggestions are always accepted!
Good luck!
- NZD has been very fundamentally weak due to the global pandemic.
- Recently price broke a strong trend-line and support (highlighted as red). Later, price broke another trend-line downwards and reversed from the 5.6000 key level; currently it is being re-tested.
- There is potential for the price to continue downwards from this area, or possibly climb back to around the 6.2000 key area and continue to the next support (4.9000 area).
- Thank you for dropping by and checking out my idea!
- If you support my view, a like would be highly appreciated. Otherwise, feedback and suggestions are always accepted!
Good luck!