Overview:
- As we expected, the NZD/USD pair dropped sharply from the level of 0.6808 towards 0.6625. Now, the price is set at 0.6677.
- On the H4 chart, the resistance is seen at the level of 0.6690 and 0.6625. It should be noted that volatility is very high for that the NZD/USD pair is expected to move between 0.6690 and 0.6625 or lower in coming hours.
- Today, the price spot of 0.9690 remains a significant resistance zone. Therefore, there is a possibility that the NZD/USD pair will move downside and the structure of a fall does not look corrective. In order to indicate the bearish opportunity below 0.9690, sell below 0.9690 with the first target at 0.6625 in order to test yesterday's bottom. Additionally, if the NZD/USD pair is able to break out the bottom at 0.6625, the market will decline further to 0.6594.
