NZDUSD Chart Technical Outlook corrects lower towards 0.6040
NZD/USD broke the bullish structure to the downside. A corrective ‘ABC’ structure is in play. It has a measured move target of AB=CD pattern at 0.6040, overlapping with a previously broken barrier, daily ATR range, and 50% Fib. retracement level. I expect that level to hold ahead of the U.S. PCE data due today. Resistance is at 0.6100.
