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- NZD/USD Price Analysis: Bulls and bears engaged at critical dialy support
NZD/USD Price Analysis: Bulls and bears engaged at critical dialy support
- NZD/USD bears are in the market testing key support.
- A break lower will open the risk of a sell-off towards 0.6150.
NZD/USD has been in the hands of the bears this week as the US Dollar firms on hawkish Federal Reserve sentiment. The bulls will be in the clear, at least momentarily, if they can get back above 0.6220, but the pressure is on as follows:
NZD/USD daily chart
NZD/USD is rested at a key support area with a break of 0.6180 eyed for the day ahead as the following four-hour chart illustrates:
NZD/USD H4 chart
The bears are in the market and eye a break to the downside given the broken structure with 0.6150 eyed.
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