🥝 NZD/USD Will Continue to Fall? 🥝

Feb 9, 2023

🥝 NZD/USD Will Continue to Fall?

🥝 The nearest strong support zone: around the fibo level 0.236 of the upward wave.

🥝 Nearest strong resistance zone: around recent peaks.

🥝 Technical environment:

📊 Moving averages: Downtrend

📊 MACD: Uptrend

📊 RSI: Downtrend

💲 Price action: NZD/USD tried an upward bounce on the European session but the 200-period moving average stopped it after which it started a continuation of the downward movement on the American session. We are in an upward channel, I am very curious to see if the scenario from gold I wrote about recently will repeat itself. It is very likely that we will break out to the bottom because such channels are usually trend continuation formations.

📉 The scenario I am playing is the continuation of the declines. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.

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Feb 10, 2023

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