The NZDUSD has moved to a new cycle low and trades at the lowest level since November 2020.
Looking at the daily chart, the pair has moved below a lower trend line that stalled the fall both yesterday and on Monday. The trend line also held at the low in December.
The trend line was broken at 0.6660. That is now close risk for the pair. Stay below is more bearish with swing low at 0.6580, 0.6546 adn 0.6511 as the next swing targets Going back to September to November 2020
This article was originally published by Forexlive.com. Read the original article here.