NZDUSD Chart Technical Outlook

NZDUSD Chart Technical Outlook develops a corrective structure, with no clear immediate bias

NZD/USD’s recent bias is bullish. Markets expect the Fed to cut rates sooner than the RBNZ. Prices are correcting lower. There is room for more losses before resuming higher. It develops a three-wave corrective structure (WXY). Wave (X) is in progress, with a potential for mild gains towards 0.6030. Bulls are awaiting at the support zone between 0.5940-60.

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