NZDUSD Bears Prepare for a Downpour Below the 0.68430 Key Level

NZDUSD Price Analysis – December 2

NZDUSD bears prepare for a downpour in the market. The bears are prepared to rage a storm of influence on the market by moving prices with strong, significant strength. The market will experience a downpour due to the bears’ successful gain in power over the bulls in the market. The bulls want to lift the price movement upward to break through the 0.68430 key level. However, due to the low level of impact, the bears will eventually succeed in returning price movement downward in a bearish torrent.

NZDUSD Key Levels:

Resistance Key Levels: 0.71950, 0.70550
Support Key Levels: 0.68430, 0.67100

NZDUSD Long Term Trend: Bearish

The NZDUSD market can be described as having exhibited a wayward influence in the sense that the market gave both the buyers and the sellers space in the market to manipulate prices in its direction. The market emerged with a bear trend and the bears manipulated the market downward, down to the 0.68430 key level. When the price attained this level, the bulls had a significant impact on the market’s influence. The price level rallied back to the 0.71950 key level. Bull’s torment fell at this significant level of influence. The price level then continues in a side-ways movement.

The bulls and the bears struggled to keep the price structure. The bears eventually zoomed in with a downpour of price movement, breaking several price levels of influence. Price then dropped to several lows before breaking through the 0.68430 key level. The bears strengthen themselves to break through this level to ride to the 0.67100 key level. The bulls, however, tried to entangle the bears to push the price level back to the 0.68430 key level. The RSI (Relative Strength Indicator) shows price movement at the middle level pointing downward as price tends to assume a bearish direction.

NZDUSD Long Term Trend: Bearish

The 4-hour chart price inclination shows the movement to be random and between the price range values of 0.68430 and 0.67100, the key level of influence. The RSI also shows a price signal in the middle level pointing downward, indicating a bearish presence at hand as the market is prepared for a downpour, and the mass flow index indicator also follows the direction of a bearish market. The price level is therefore ready for a downpour below the 0.68430 key level.

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