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NZDUSD Short-term Trend Channel - Renewed......>

KIWI
KIWI: NZDUSD Short-term Trend Channel
- Renewed US-China trade tensions dented risk appetite through Asia. NZDUSD
dipped back under the 0.66 level and remains locked in its short-term trend
channel.
- The recent bearish MA crossover (50dma below 100dma) could further accelerate
the downtrend towards 0.6554 which represents the 76.4% retracement of the Oct -
Dec 2018 rise. Below here opens recent cycle lows at 0.6527, ahead of channel
base support at 0.6489.
- Seasonality factors could also come into play which has seen NZDUSD lower in
May seven of the last nine years, currently -1.44%.
https://emedia.marketnews.com/marketnewsintl/NZDUSD_Channel.png

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