NZD/USD: 'Double Top' pushed price lower

NZD/USD: 'Double Top' pushed price lower

Information is not investment advice

The last 'Double Top' pushed the market lower, so all the Moving Averages have been broken. It seems like there's a developing 'Falling Wedge' pattern. Thus, it's likely that the pair is going to test the nearest resistance at 0.6813 in the coming hours. If a pullback from this level happens little later on, bears will probably try to reach the next support at 0.6789 - 0.6772.

5-3-2019-NZD-USD-H4.png

nzd

Similar

Popular

GBP/JPY: trading on Brexit

What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.

Choose your payment system