Currency Analyst since 2010

NZD/USD: Murray levels analysis

D1. Bears continue their advance: the pair broke below the key level at 0/8(0.7813). So nowthere are two scenarios: 1) the price will fix below 0/8, and the pairwill go down to the level of-2/8 (0.7567; 2) the price will move out of the oversold area. The signal for the latter would be the break of 0/8 to the upside at least by one thirdof the width ofthe levels. The target in this case will be at CTD1.

H4. There are no signs of a reversal in the oversold zone, the pair is not able break above 0/8 (0.7813) and CTH4. In these circumstances, downward movement is likely to continue, at least to the level of -1/8 (0.7690).

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