FUTURE FOR NZDUSD.....BEARISH FOR NOW!!!

NZDUSD have been in a downward trend and is looking to move upwards..... Currently, NZDUSD is strongly believed to fall all the way to the support level @0.6255 which will be approximately 50 pips away. Having said that, selling now will be a wise choice following its downward trend. However, to determine its movement when it reached the support level is strongly dependent on a strong candle which may break the support level or initiate an upward trend. If it is bullish, it may movement up all the way to the resistance level @0.6430. However, in a long run, NZDUSD will be bearish according to the monthly timeframe with a lower peak and a downward movement. (highlighted in red). Therefore, to keep it simple BEARISH for this currency pair with 2 possible movement (red arrow and green arrow).

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