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NZD/USD Bound to Go Lower as 0.6698 is the First Target

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NZD/USD Technical Analysis

  • Bearish configuration
  • Downtrend continues
  • M L3 is the first target
  • NZD is weak
  1. Swing low
  2. Higher low
  3. Swing high
  4. Entry zone
  5. 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.