The US dollar is currently in a correction, but is likely to continue the trend down.
NZD/USD: second 'V-Top' pattern in a row
Information is not investment advice
There's the second 'V-Top' pattern in a row, so the price is consolidating. It's likely that the market is going to reach the nearest support at 0.6872 and the Moving Averages in the short term. If a pullback from these levels happens next, there'll be a green light for another bullish rally towards the previously tested resistance at 0.6937 - 0.6941.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.
EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.