Technical Analysis

NZD/USD Technical Evaluation: NZ Greenback Appears to be like More likely to Fall Additional

NZD/USD Technical Technique: BEARISH

NZ Greenbackdeclines for 5 consecutive days, stalls above Zero.67 determine

Break of counter-trend help line hints bearish pattern has resumed

January lows in focus if sellers can handle each day shut under Zero.6686

See our free buying and selling information to assist construct confidence in your NZD/USD buying and selling technique!

Indicators of ebbing upside momentum preceded a flip decrease for the New Zealand Greenback in opposition to its US namesake, as anticipated. The foreign money pair has now declined for 5 consecutive classes, making for the longest dropping streak in over three months.

New Zealand Dollar vs US Dollar - daily chart

A have a look at shorter-term positioning on the four-hour chart reveals costs consolidating losses within the Zero.6726-67 space. Nonetheless, seeing clear follow-through on the break of rising pattern help guiding the upswing from lows from set at the start of the 12 months suggests the longer-term down pattern has resumed.

NZD/USD Technical Analysis: NZ Dollar Looks Likely to Fall Further

From right here, a transfer under the Zero.6726 opens the door for a take a look at of the subsequent layer of help within theZero.6686-Zero.6713 space. A each day shut under that units the stage for a decline to revisit zone Zero.6592-Zero.6619, the place the final down leg began in early December out of steam.


— Written by Ilya Spivak, Foreign money Strategist for

To contact Ilya, use the Comments part under or @IlyaSpivak on Twitter

Clickbank Promo Tools
Wiadforex is a big online financial news, technical, fundamental analysis, trade ideas, option and educational site with a focus on Nigeria, Africa and world in general. This is an independent online forex platform. That is publish by Wiad Consultancy Services

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Clickbank Products