NZDUSD - Ready for 3rd Wave of Downtrend?Continuation of yesterday's forecast on NZDUSD, the price has retraced significantly after the completion of the 2nd wave of a bearish trend.
At this moment, the price is seen hovering near the supply zone at 0.684.
The retracement has hit a volume of 34 pips, similar to the previous wave of retracement just before the price dropped yesterday.
For a confirmation that the price will continue to fall for the 3rd wave, it has to first break below 0.683.
At the same time, we should keep a close watch on the dollar which is seen quite sluggish as it attempts to rebound and climb higher.
