US Greenback to Retake Higher Hand?
NZD/USD Technical ANALYSIS: BEARISH
- New Zealand Dollar recoils from resistance, drops again to near-term assist
- Break downward would set the stage to revisit four-year lows close to 0.62 determine
- Neutralizing promoting stress possible requires shut above development line from 2017
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The New Zealand Greenback floundered at resistance within the 0.6425-41 space in opposition to its US counterpart as soon as extra. The pair nearly made good on the bullish implications of a Head and Shoulders backside carved out within the month from mid-September, however sellers rejuvenated sellers stepped in to reject the rally.
NZD/USD now sits squarely on assist guiding its ascent from October lows. A each day shut beneath 0.6338 would open the door for a retest of the August-September 2015 backside within the 0.6197-0.6268 zone. It will additionally make a forceful argument for the resumption of the longer-term downtrend.
Neutralizing promoting stress appears arduous….