HomeContributorsTechnical AnalysisNZD/USD Breakdown Needs Confirmation

NZD/USD Breakdown Needs Confirmation

Price managed to drop below the fourth warning line (wl4) again and now is challenging the 38.2% retracement level, a valid drop below this obstacle if all what we need to know for sure that will drop further. Technically should drop further, having the next major target at the fifth warning line (wl5), will approach this level if will ignore the support from 50% and 61.8% retracement levels. Could be attracted by the confluence formed by the wl5 with the WL2.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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