NZDUSD → Correction to MA-200. The fall may continue

2024-04-29 08:41 FOREX forecast

💡Ideas For NZDUSD 🇦🇺🇺🇸

📈 NZDUSD → Correction to MA-200. The fall may continue

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NZDUSD bounces and strengthens towards MA-200 and resistance of the current trend on H1 against the backdrop of the dollar index correction.

On D1 the medium-term outlook is clear. There are no prerequisites for the change of the global trend and most likely the fall after the resistance retest may continue. The dollar also at the moment does not give signs of reversal and fall, respectively, the bearish medium-term outlook for the currency pair NZDUSD is still relevant.

Resistance levels: MA-200, Channel Resistance, 0.6000.

Support levels: 0.5940, 0.5875

The global trend coincides with the local trend and has a bearish direction. On H1 a correction is forming, which may be over soon, after which we should wait for a decline to 0.5875.

R. Linda

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