{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-drops-to-continue-its-general-downtrend\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-drops-to-continue-its-general-downtrend\/","headline":"NZDUSD Drops to Continue Its General Downtrend","name":"NZDUSD Drops to Continue Its General Downtrend","description":"NZDUSD Analysis – Price Drops to Continue Its Downward Momentum NZDUSD drops in value to continue with its downward trend. With the market firmly gripped by sellers, bulls are attempting to break free from the bearish influence. The latest attempt came from a strong price increase from the 0.653302 support level. The price trudged upward, […]","datePublished":"2022-05-10","dateModified":"2022-05-10","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/05\/NZDUSD-1DAY-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/05\/NZDUSD-1DAY-1.png","height":627,"width":1194},"url":"https:\/\/forexschoolonline.com\/nzdusd-drops-to-continue-its-general-downtrend\/","about":["Article","Article-com","charts","Featured Articles","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Trade Idea","Trade Setups"],"wordCount":330,"keywords":["Daily Chart","forex price action","FX Technical Analysis","Market Prospect","NZDUSD"],"articleBody":"NZDUSD Analysis – Price Drops to Continue Its Downward MomentumNZDUSD drops in value to continue with its downward trend. With the market firmly gripped by sellers, bulls are attempting to break free from the bearish influence. The latest attempt came from a strong price increase from the 0.653302 support level. The price trudged upward, making consistently higher highs and lows till it rose to 0.69460. Bulls weakened at this level and, struggling for a while, dropped precipitously.NZDUSD Key LevelsResistance Levels: 0.71500, 0.70360, 0.69460Support Levels: 0.62820, 0.65330, 0.67140The market was caught in bearishness from the beginning of 2021, and since then, prices have been downtrending. Despite the best efforts of the bulls to lift the market at times, the currency pair tends to drop to lower lows to undo the progress of the buy traders. In so doing, the price has violated many key levels as the market trades to the downside. This scenario also plays out in the market again to complete another cycle. The price is seen to bounce upward from the 0.65330 key level to rise by 7% to reach 0.70360. At that point, the bears also acted on the market to plunge it by more than 10% to 0.62820. The bearish tide seems to have reduced and a new cycle is set to be formed. The Stochastic and the RSI (Relative Strength Index) both portray the market as oversold, so a rise is imminent.Market ExpectationsThe 4-hour chart shows that the price touched down at 0.62820 with a tweezer bottom candlestick pattern, which is a reversal pattern. Also in the short time frame, the Stochastic and RSI lines have fallen into the oversold region and are now taking an upward turn. Therefore, it is assumed that bulls have been set free again and will likely drive the price up towards 0.68000.How To Buy Lucky Block\u00a0Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}