The New Zealand Dollar is up greater than 0.6% towards the US Dollar because the Asia open - regardless of the advance, the chan
The New Zealand Dollar is up greater than 0.6% towards the US Dollar because the Asia open – regardless of the advance, the change fee stays susceptible after reversing off technical resistance final week. These are the up to date targets and invalidation ranges that matter on the NZD/USD weekly worth chart. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Sterling worth setup and extra.
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New Zealand Greenback Worth Chart – NZD/USD Weekly
Chart Ready by Michael Boutros, Technical Strategist; NZD/USD on Tradingview
Notes: New Zealand Greenback posted an outside-weekly reversal off confluence resistance final week at 6436 – the place the 2018 low-close converges on the median-line of the descending pitchfork formation we’ve been monitoring off the late-2018 / 2019 swing highs. The sell-off turned simply forward of a key weekly help zone and the quick focus is on 6304/14 – a area outlined by the yearly low-week shut and the 61.8% retracement of the September advance.
A break / shut under this threshold can be wanted to mark resumption of the broader downtrend with such a situation focusing on 6250/60 and demanding help on the 2015 low / 1.618% extension at 6179/97. A breach / shut above 6436 is required to mark resumption of the September…