USD/NZD started a bearish leg, within its sideway range on 9th of the March 2023. As a result of this bearish leg, the price line on this pair was subjected to a significant lose. MA of 9 and 90 have recently had a bearish cross-over; but the price line has not yet entered a bearish wave. In case the red descending line above the price line can hold and drive the price line below the red static support zone, a major bearish wave could be expected. Keep in mind that analyzing fundamentally could also come in handy to have a more accurate prediction of the price.
• There is a resistance level at 1.62000 followed by resistance at 1.63123 and 1.65000.
• There is a support level at 1.59000. Below, there is 1.55555 and 1.49500.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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