FX.co ★ Technical Analysis of Intraday Price Movement of NZD/USD Commodity Currency Pairs, Tuesday January 16, 2024.

Although currently the NZD/USD commodity currency pair on the 4-hour chart is weakening, marked by the emergence of a Bearish 123 pattern followed by several Bearish Ross Hooks, this has the potential to bring the Kiwi to weaken to the level of 0.6081, but with price movements being held at the level Bullish Fair Value Gap area and coincidentally also coincides with the appearance of deviations between price movements and the MACD indicator, so please be careful if there is strengthening which corrects the ongoing weakness, especially if NZD/USD manages to break above the 0.6222 level then all the weakening scenarios that are occurring in NZD/USD has the potential to cancel itself.

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