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NZD/USD More Drop To Come

NZD/USD extends the sell-off confirming a further drop in the upcoming period. Is trading in the red and should hit fresh new lows in the upcoming days because is located deep in the seller’s territory. Has plunged much below the 50% retracement level, signaling that will drop towards the 61.8% retracement level. Could also be attracted by the fifth warning line (wl5) of the ascending pitchfork.

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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