NZD/USD Similar to Aud/USD Weekly Setup 4/03/20

NZD/USD Similar to Aud/USD Weekly Setup

Last week the NZD/USD ended the week after the pair tested weekly trend line and a long term resistance last week.  

This week it would seem that the pair would like to continue the trend and test the overall support. In the long term the pair is actually calling for a retest of .55 the low for the year. However, at this point we should just enjoy the short trade and profit-taking. And look for any correction on the 30 minute chart with a cross of the moving averages and a re-cross for another sell. Only a close about .6100 would negate the current bearish downtrend.

See below for additional pivot points, support, and resistance .

 

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