NZD/USD Price Analysis: Bears moving in, eye downside extension

May 18, 2023

in Forex

Reading Time: 2 mins read

NZD/USD bears are moving in and eye a downside extension.
NZD/USD´s M-formation could stall the momentum.

As per the prior analysis from earlier this week, NZD/USD bulls in the market and eye a firm correction, the pair moved up into the 38.2% Fibonacci resistance and came close to a 50% mean reversion before starting to melt to the downside:

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NZD/USD Price Analysis: Bears moving in, eye downside extension

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NZD/USD Price Analysis: Bears moving in, eye downside extension

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