The NZDUSD makes another break. Trades to new lows.

Technical Analysis

Author: Greg Michalowski | nzdusd

Measures steps lower in the pair

The NZDUSD has been taking measured steps lower today.

First, the price fell below a trend line early in the session. Next the 100 hour MA was broken and more recently, a lower trend line has been busted.  Bearish steps.  The 100 hour MA is now a risk level for shorts. Stay below, keeps the sellers more in control.

What's next?

On more downside, the 38.2% and highs from November 28 and November 30th are the next targets at 0.6885.  Below that - and looking forward - the 200 hour MA and 200 day MA are right around the 50% at the 0.66855-60 area. On  more weakness going forward, those levels will be eyed.

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