The NZDUSD is buying and selling to new lows as merchants react immediately to risk-off sentiment as shares/commodities slide. Issues about development within the US and CHna iare weighing on the pair.
Recall from final week, the NZDUSD peaked on Thursday after a shock ANZ Enterprise confidence quantity (50.6 vs 27.1 estimate). Nevertheless, since then the worth has stepped down over the past 3 buying and selling days.
Technically, the worth immediately dipped beneath the 200-hour MA for the primary time since mid-August That MA is available in at 0.6221 and is now a threat stage for shorts in search of extra draw back momentum. The subsequent draw back goal is available in on the rising 100-bar MA on the 4-hour chart at 0.61446. The 38.2% retracement is available in at 0.6126.
Shut brief time period resistant for sellers is available in at 0.6193 (excessive worth from early final week). Extra conservative threat is available in at 0.62212
