NZD/USD forms a downward reversal

The NZD/USD pair, in the context of the American dollar recovery and the continued weakness of the New Zealand economy, maintains a downward trend, which confirms the formation of a downward reversal in the form of a “head and shoulders” pattern.

The resumption of decline can be expected below the level of 0.6390-80.

This opens the way for support levels: 0.6350 and 0.6330. Resistance are the marks: 0.6410 and 0.6430.

Read also: “Oil market: forms a
reversal or maintain lateral dynamics»

Hanzenko Anton

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