NZD/USD: dropping to September lows?

NZD/USD: dropping to September lows?

2020-10-20 • Updated

The New Zealand dollar has been going down since Monday. It crossed the Moving Averages downwards, breaking through the ranges of 0.66 that were guarding October lows. Now, it is facing September lows.

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On the H4 chart, we have 0.6550 supporting the price movement. Currently, the pair is testing this threshold, and noting the intensity with which bears have been dragging it downwards, it is pretty likely we will see that crossed. If and once we do, prepare to watch for 0.6530. But before – make sure you are also prepared for a possible reversal at 0.6550: to track it, watch the reversal chart and candlestick formations!

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