The NZD/USD pair is forming a reversal

The pair NZD/USD has been trading in the upward channel on the weakness of the US dollar in recent weeks, correcting after the decline. As a result, the pair was in overbought and limited to the upper limit of the downward five-month trend. An additional factor of decline is the formation of a turn on the timeframe D1.

Transactions for sale on a pair of NZD/USD should be considered in the range from 0.6680 to 0.6660, with targets 0.6630 and 0.6600. Fixing this pair above 0.6700-20 cancels the possibility to decrease.

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Hanzenko Anton

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