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- NZD/USD Price Analysis: Bulls must hold the fort in the 0.6680's
NZD/USD Price Analysis: Bulls must hold the fort in the 0.6680's
- Bulls moving in at a 4-hour 50% mean reversion mark.
- The is a risk of a significant move to the downside if 0.6680 is broken.
As per the prior analysis, NZD/USD flying towards 0.67 the figure despite Russia angst, the bird crept higher for a deeper test of the M-formation's neckline.
NZD/USD prior analysis
As can be seen in the chart above, the price was moving higher with a bullish conviction for the week. Despite the ebbs and flows of risk sentiment supporting Russia, the bird has managed to hold onto the bulls and keeps rising:
NZD/USD H4 chart
The bulls may start to look to jump in again at a discount from the 50% mean reversion mark for the sessions ahead. If not, then there is a considerable risk of a significant move to the downside if 0.6680 is broken.
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