NzdUsd- 0.6 break to announce a new leg down
After breaking both trend line and horizontal support, NzdUsd has dropped to 0.59 zone.
A correction of this first leg down has followed after the drop and 0.6040-0.6050 zone is now resistance.
A break of 0.6 is needed to confirm that a new leg down is underway and a daily close under this support would accelerate losses towards important support of 0.5850.
I favor short trades as long as the price is under 0.6060-0.6080 zone
A correction of this first leg down has followed after the drop and 0.6040-0.6050 zone is now resistance.
A break of 0.6 is needed to confirm that a new leg down is underway and a daily close under this support would accelerate losses towards important support of 0.5850.
I favor short trades as long as the price is under 0.6060-0.6080 zone
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