NZD/USD Analysis For March 20, 2020

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The 30-period Commodity Channel Index is going down through 3 levels such as 100, 0, and -100 (blue circle & blue rectangle) and the candle is moving below the EMA 30 with the downward slope from the Moving Average. We know exactly that the kiwi has been trading with the bearish bias. Now this pair will try to reach the nearest Liquidity Pool at 0.5605 as long the CCI (30) does not pass upward (above the 0 level) and if the price makes a correction to not hgiher than 0.5913. Afterwards, the Liquidity Pool at 0.5605 will be broken.

The overall bias of NZD/USD is bearish.

(Disclaimer)

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