The NZD/USD pair is trading at 0.6636 right below the downtrend line. As long as it stays under this upside obstacle, the price could drop again. Technically, the currency pair could test and retest the downtrend line before resuming its downside movement.
The downtrend could be over only if the rate jumps and stabilizes above the downtrend line. Passing above the downtrend line could also announce a new upwards movement and may bring new buying opportunities.
NZD/USD Trading Conclusion!NZD/USD is almost to hit the downtrend line which represents an upside obstacle. Staying below it may signal a potential drop at least towards 0.6543. On the other hand, passing above the downtrend line could help the buyers to catch a new upwards movement.