NZDUSD Allows Sellers to Keep up Price Positions in the Market

NZDUSD Analysis – Kiwi Allows Sellers to Keep up Price Positions in the Market

NZDUSD allows sellers to keep up price positions in the market. Due to the reaction of price influx within the market movement, the sellers have successfully been the major inhabitants controlling the price direction. The price level systematically follows a bearish progression as more tension is applied to the Kiwi market. The bulls, though present, are equally influencing the demand for price influence. However, Kiwi is determined to proceed with bears’ direction as the market builds down due to the increase in tension applied.

NZDUSD Market Levels:

Resistance Levels: 0.71930, 0.70520
Support Levels: 0.68420, 0.67000

NZDUSD Long Term Trend: Bearish

NZDUSD unfolded with a long consolidation in price movement. The accumulation of the price is noticeable as a retest at the 0.70520 market level. The price was built on long consultation before the bears hijacked price movement down to the price level of 0.68420 level of significance. The market momentum swiftly changed to a bull market. Their strength increased forward, up to the 0.71930 price level from the 0.68420 price level. The market then repeated the cycle, following the same pattern.

The bears, therefore, wield more power as the market proceeds below the price level of 0.71930. The bearish power moved with vigor with the price level, breaking through the 0.68420 level of significance. And the price level is ready to proceed further with a more bearish moment. The Money Flow Index indicator shows the overbought and oversold regions of the price market. The signal flow fails to reach the 80.00 regions and is seen progressing downward.

NZDUSD Short Term Trend: Bearish

The 4-hour chart of the market displays price movement as ranging between the significant levels of 0.68420 and 0.67000. The price level seeks to continue a further bearish moment in price consolidation. The Relative Volume index shows price movement in the bears’ favor, and Kiwi is prepared to trade at the 0.67000 market level as the tension increases.

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