NZD/USD Bound to Go Lower as 0.6698 is the First Target
December 10, 2021
NZD/USD Technical Analysis
- Bearish configuration
- Downtrend continues
- M L3 is the first target
- NZD is weak
- Swing low
- Higher low
- Swing high
- Entry zone
- Final target
The NZD/USD is bearish. We can see a strong downtrend in progress. This is a good opportunity to short the NZD/USD as this is the positional trade. We can clearly see a downtrend progression and the point 4 is entry zone. Shorts are bound to continue lower to the first target. M L3 – Q L4 camarilla pivot is the first target. So the entry is around 0.6770 , the first target is 0.6698 and the final target is 0.6580. The final target can only be reached if 0.6690 breaks lower and/or the daily candlestick closes below that level.
