NZDUSD Price Action – Corrective Structure Holding (For Now) | Oct 22

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NZDUSD – Corrective Structure Holding (for now) (4hr chart)
Since the beginning of this month the Kiwi has been in a corrective structure and pullback, pinging off each side of the channel 4x. The last move down showed some strong selling, and I’m wondering if this is telling of more to come.

A bounce off the channel = another chance to sell it around the key resistance near 8000. A break below here sets up a move down towards 7725 which is the yearly lows, and likely the next place before bulls step back in.

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