Forex Forecast #NZDUSD Bearish

04.10.19 10:38 PM Comment(s) By Alan Posner

This pair has been on sale for a long time and only recently been consolidating.  Another selloff is coming soon.

From a weekly perspective, NZDUSD has been consolidating between .67 and .69 starting in late 2018.  A closer look on the daily chart details a symmetrical triangle whose apex is seeing price break down and now backtest the lower line of the triangle.  The next move is lower with the first target at .67.

From a technical perspective:

1. Price now below the LSMA

2. TSI turned bearish (needs a little more for confirmation)

3. Symmetrical Triangle (Daily Chart) broken to the downside

4. Candle this week is failing rally - let's see how it finishes on Friday

A little more bearish price movement and this will be a shortcoming soon.

NZDUSD forex bearish

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