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NZDUSD - like the AUDUSD - trades to a new low for the year but bounces.

NZDUSD - like the AUDUSD - trades to a new low for the year but bounces.
The NZDUSD - like the AUDUSD - traded to new 2023 lows and to the lowest level since November 2023. The price, however, has seen a rebound back toward the low price going back to the end of May at 0.5985. If the price were to get above that level - and stay above that level - some shorts may look to cover and correct to the next targets. That next target swing area would come between 0.60249 and 0.60320 (see red circles below). Moving above that area would give buyers more confidence. The RBN... Read More
Posted: Aug 14 2023, 16:18
Author Name: forexlive
Views: 022133

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