The NZD value usually falls during risk off sentiment and NZDUSD is linked to equities markets during Asia session too. During risk off, Japanese and US bonds go up and NZD goes down. This could also be a retracement as US and Asia sessions are frequently negatively correlated due to recent JPY strength which is not favored by BOJ.
Technically NZDUSD is close to POC and 1.6550-30 could reject the price towards 1.6622, 1.6250 and 1.6720. We have IRREGULAR BULLISH FLAG which also suggests a breakout above 1.6622 towards upper levels. POC (61.8, bullish order block, breakout point, L3) should provide support and reject the price.
In between L4 and X cross is a Sideways Chop zone without a clear trend.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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