Ransquawk

The currency of New Zealand recently is one of the weakest.
NZD/USD moves in a strong downward trend from mid-April. During this period, we had small, one-day corrections. Currently, the price goes below the minimum of pin bar that appeared last Thursday. Neglecting this formation should result in the continuation of declines. Looking at the graph on a weekly basis, it can be seen that, in a wider sense, we have been dealing with a side trend for almost two years. The main support in this period are two last year’s lows in the area of 0.68. Looking at the W1 graph, you can have the impression that the price is just heading to these areas and it is rather a matter of time to get there.

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