NZD/USD Outlook (30 August 2022)
The upside of the NZDUSD halted at the price level of 0.6220, resisted by the downward trendline and the significant move lower driven by hawkish comments from the Federal Reserve.
The NZDUSD found the 0.61 support level before retracing higher towards the 0.6160 price level. Look for the price to reject the resistance level and the diagonal trend line to signal further downside. However, the NZDUSD could have limited downside potential with 0.6060 a key support level, last tested in 2020.
The NZDUSD moves in a similar fashion to the AUDUSD.
The NZDUSD found the 0.61 support level before retracing higher towards the 0.6160 price level. Look for the price to reject the resistance level and the diagonal trend line to signal further downside. However, the NZDUSD could have limited downside potential with 0.6060 a key support level, last tested in 2020.
The NZDUSD moves in a similar fashion to the AUDUSD.
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