NZD/USD downtrend ready to resume?
NZD/USD pointedly pushed below congestion area support anchored at 0.6798, seemingly confirming a downside break on a daily closing basis. A subsequent retest of this barrier as resistance seems to be struggling for momentum, bolstering the argument for bearish follow-through.
A relatively minor layer of initial support lines at up 0.6737, followed by the 2021 swing bottom at the 0.67 figure. Alternatively, re-establishing a foothold above the 0.68 mark sees the next layer of resistance capped at 0.6868, with scope for a push above the 0.69 handle thereafter if buyers manage a breach.
A relatively minor layer of initial support lines at up 0.6737, followed by the 2021 swing bottom at the 0.67 figure. Alternatively, re-establishing a foothold above the 0.68 mark sees the next layer of resistance capped at 0.6868, with scope for a push above the 0.69 handle thereafter if buyers manage a breach.
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