NZDUSD trades toa new low for the week and trades below the 50% midpoint

<p>The NZDUSD is trading to a new low for the week and in doing so to the lowest level since the end of June/beginning of July. The price is also below the 50% midpoint of the move up from the 2022 low to the 2023 high at 0.6024. Stay below is more bearish.</p><p>The next target comes in against the low for the year at 0.5982. Move below that, and the door opens for more selling. On the topside if the 50% can't hold resistance in the short term, there could be some short covering into the weekend. </p>

This article was written by Greg Michalowski at www.forexlive.com.