NZDUSD: Will the Drop Continue?

NZDUSD, Daily

In the Daily timeframe, the NZDUSD, in a long-term bearish trend, fell again after a slight rise. The price crossed MA100 and MA200 reaching the 38.2 Fibonacci support. However, despite the fall, DeMarker shows robust oversold conditions.

• If the bears push the price below 0.6050, we can expect a further drop to 0.5970;

• Otherwise, a rebound from support will bring NZDUSD back to 0.6110;