NZD/USD Price Analysis: Bears are lurking below 0.6150 ahead of NFP NZDUSD Technical Analysis
data tonight while the USD DXY has turned soft ahead of the event putting some wind under the Bird's wings. The following illustrates a corrective bias ahead of the event but bearish overall. The daily chart's inverse head and shoulders are compelling, but the price remains on the front side of the dominant bear trend still and there are bearish under tones while below 0.6270.
In the meanwhile, there are prospects of a fuller test of the dynamic resistance in line with the 200-DMA and neckline of the M-formation.that meets the dynamic resistance could prove a tough nut to crack. On the lower time frames, such as the hourly, the 0.6120s could prove to be resilient also and lead to a downside extension in failures below the level. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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