NZD/USD:DOWNTREND|NEW BEARISH IMPULSE ? SHORT VIEW 🔔

7 Eyl 2021

In recent sessions The Kiwi has had a bullish rally in which we have had long bullish candlesticks without any retracement, the Bulls have pushed the price back into the area of 0.71000 / 0.72000 where the price has found dynamic resistance as a wall for a possible bearish retracement. We can also note the presence of the Point of control as an additional level of resistance. A general view show the price entered into a bearish trend where we can see the two channels that we have traced. "A decline in the delta strain and rising yields will help the kiwi - ANZ." says this agency today, but we expect a retracement to 50%, 61.8% fibonacci levels before a possible new rise. The NZD/USD and EUR/USD charts have a high correlation, from which we can understand how the EURO chart has a big influence on the KIWI.