NZDUSD moves to the lowest level since November 2022. What next?

NZDUSD price breaks below the 50% midpoint of the range since the 2022 low.

The NZDUSD yesterday moved down to test the 50% midpoint of the range since the 2022. That level comes in at 0.60242. The low price yesterday reached 0.6024.

Today, the price moved below that 50% level, and it opened the door for further selling. The current prices trading to a new session lower 0.5987.

Risk on a daily chart is a move back above the 50% retracement. Stay below is more bearish.