New Zealand Dollar Vulnerable as NZD/USD Eyes Falling Wedge
The New Zealand Dollar's next leg could be lower against the US Dollar after the pair seemingly rejected the ceiling of a Falling Wedge chart pattern.
While the wedge is in itself a bullish formation, prices may consolidate lower within the boundaries of the pattern until a breakout is achieved.
A push above the wedge could hint at resuming the uptrend that occurred from October 2020 through February 2021. Along the way is the 0.7268 - 0.7315 inflection zone.
A bullish crossover between the 20- and 50-day Simple Moving Averages still offers a near-term upwards technical bias. Prices are testing the 20-day line at the time of publishing.
Clearing lower exposes the 0.6943 and 0.6881 inflection points towards the August low just above 0.6798.
NZDUSD
While the wedge is in itself a bullish formation, prices may consolidate lower within the boundaries of the pattern until a breakout is achieved.
A push above the wedge could hint at resuming the uptrend that occurred from October 2020 through February 2021. Along the way is the 0.7268 - 0.7315 inflection zone.
A bullish crossover between the 20- and 50-day Simple Moving Averages still offers a near-term upwards technical bias. Prices are testing the 20-day line at the time of publishing.
Clearing lower exposes the 0.6943 and 0.6881 inflection points towards the August low just above 0.6798.
NZDUSD
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.