NZD/USD Price Analysis: Bears move in an eye a test of 0.6320/00
- NZD/USD starting to sink on the backside of the trend.
- 0.6320-00 eyed as a key support structure.
As per the prior analysis, NZD/USD Price Analysis: Bird flies into a critical juncture ahead of potentially high volatility, the Bird took flight as forecasted and reached a high of 0.6359 as the following will illustrate.
NZD/USD prior analysis
NZD/USD was testing a critical area of resistance ahead of the high volatility event in the Nonfarm Payrolls 0.6270s and the 38.2% Fibonacci ratio and structural support were key in this regard:
NZD/USD updates
NZD/USD rallied as forecasted and took out the resistance.,
There are prospects of a move lower considering the price is breaking to the backside of the trend.