NZDUSD: Support breach, down to 0.56?
Updated
Looking for a further decline is this cross over the week.
We have seen continued NZD weakness over the past few days, with no fundamentals of note for this currency in the week.
Even though I'm noticing USD slow-down, and a likely retracement due to the over-extended current uptrend, I still think this pair will fall as the USD will remain stronger than the USD.
Support seems to have been broken, but I'm monitoring closely as we may retest after an initial drop from here.
My target will be 0.56 as this is the next significant support below this point and we['re still some way off an ATL.
We have seen continued NZD weakness over the past few days, with no fundamentals of note for this currency in the week.
Even though I'm noticing USD slow-down, and a likely retracement due to the over-extended current uptrend, I still think this pair will fall as the USD will remain stronger than the USD.
Support seems to have been broken, but I'm monitoring closely as we may retest after an initial drop from here.
My target will be 0.56 as this is the next significant support below this point and we['re still some way off an ATL.
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