Participant

The correction continues on this pair, the rate is now below the 50% retracement level and the outlook remains bearish on long term. The US dollar is very strong lately and we might see this pair at new lows in the next period. I guess that the next target will be somewhere at the 61.8% retracement level, there we have an important confluence zone and the price can grow again on medium term. Gold price looks heavy and is expected to continue the downward movement, this scenario will push the NZD even lower compared with the other major currencies.

nzdusd

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