NZDUSD: Near term downside favored #forex

It's likely that the NZDUSD continues to move lower in the near term.

• The price has broken 0.7550 support zone, which turns now to a resistance that could limit the upside.
  
• The price has broken the rising trend line for the latest main bullish correctional wave
  
• The 50 days simple moving average was taken as well.
  
• Breaking back above 0.7575 with stability could negate this scenario
  
• Downside targets are illustrated on chart
  

Good luck
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