{"id":275960,"date":"2024-04-02T15:59:12","date_gmt":"2024-04-02T10:29:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=275960"},"modified":"2024-04-02T15:59:12","modified_gmt":"2024-04-02T10:29:12","slug":"nzd-usd-price-analysis-bearish-pattern-unfolding-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nzd-usd-price-analysis-bearish-pattern-unfolding-crypto-news\/","title":{"rendered":"NZD\/USD Price Analysis: Bearish pattern unfolding &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>NZD\/USD is declining in the final C leg of a bearish pattern.\u00a0<\/strong><\/li>\n<li><strong>The Measured Move is likely to fall to a target in the 0.5800s.\u00a0<\/strong><\/li>\n<li><strong>The RSI is oversold on the daily chart suggesting a risk of a pullback.\u00a0<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/nzdusd\" data-fxs-autoanchor=\"\">NZD\/USD<\/a> is falling in a bearish three-wave pattern, known as a Measured Move. This type of pattern consists of three waves, usually labeled ABC, in which wave A and C are commonly of the same length \u2013 or related by a Fibonacci ratio.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/_NZD_USD_2024-04-02_11-54-05-638476488409655678.png\"><\/a><\/p>\n<p><small>\u00a0New Zealand Dollar versus US Dollar: Daily chart<\/small><\/p>\n<p>Assuming the pattern unfolds as expected, NZD\/USD is likely to fall to a target at roughly 0.5847, corresponding to the end of wave C.\u00a0<\/p>\n<p>NZD\/USD has already broken below the conservative target for the pattern at 0.5988, measured as wave C being equal to a 0.618 Fibonacci ratio of wave A.\u00a0<\/p>\n<p>The pair is in a short-term downtrend which, according to the adage that \u201cthe trend is your friend,\u201d is likely to continue.\u00a0<\/p>\n<p>The Relative Strength Index (RSI) momentum indicator, fixed at 29.32 on Monday\u2019s close, is oversold which means there is now a risk of a pullback occurring.\u00a0<\/p>\n<p>If the RSI exits oversold it will signal the price will probably rise and traders should close their short bets\u00a0and open longs.\u00a0<\/p>\n<p>If the RSI remains below 30 in the oversold zone it will signal traders should keep their short bets open but not add to them.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NZD\/USD is declining in the final C leg of a bearish pattern.\u00a0 The Measured Move is likely to fall to a target in the 0.5800s.\u00a0 The RSI is oversold on the daily chart suggesting a risk of a pullback.\u00a0 NZD\/USD is falling in a bearish three-wave pattern, known as a Measured Move. This type of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,715,252,247,253,249,308,256,254],"class_list":["post-275960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-nzdusd","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=275960"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275960\/revisions"}],"predecessor-version":[{"id":275961,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275960\/revisions\/275961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8280"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}