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NZD/USD Break Or Bounce?

MultiBank Exchange Group
By MultiBank Exchange Group

Price dropped further and is almost to hit the fifth warning line (wl5) of the ascending pitchfork. Technically, it should take out this dynamic support after the retest of the sliding line (SL), but only if the USDX will climb higher after the Tuesday’s indecision. A valid breakdown will signal a further drop towards the second warning line (WL2) of the descending pitchfork.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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