- According to the most brokers’ data, more than half of the traders are currently in long positions on NZDUSD. As a result, we recommend considering only Short trades at this time.
- The increase in buyers is observed both in the downward movement and in the retracement movements. Retail traders still believe in the possibility of price increase.
- The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
- Price broke through the MVP line and rushed down. We consider this a sign for further NZDUSD price decrease.
- The first target is at the level of the previous bottom - 0.669, and the second one, in case of an active price decrease, is at the level - 0.6665
Chart & Analyst Comments
