NZDUSD - Short-term corrective pullback
NZDUSD (1H) - intraday bearish bias
The kiwi has met stiff resistance in the 0.6440 area after five unsuccessful attempts. The break of the 0.6400 psychological level along with a MA bearish cross has triggered increasing selling pressure. The classic ABC corrective wave study would give us 0.6366 as the immediate target.
Key support: 0.6366/0.6350
Key resistance: 0.6400/0.6440
The kiwi has met stiff resistance in the 0.6440 area after five unsuccessful attempts. The break of the 0.6400 psychological level along with a MA bearish cross has triggered increasing selling pressure. The classic ABC corrective wave study would give us 0.6366 as the immediate target.
Key support: 0.6366/0.6350
Key resistance: 0.6400/0.6440