FX.co ★ NZD/USD Uptrend Violated!

NZD/USD dropped below the major uptrend line signaling a potential corrective phase, decline. The pair has shown some exhaustion signs after its failure to stabilize somewhere above 0.6788 former high.

You should know that NZD/USD could come back to test and retest the broken uptrend line before going down. We may have a selling signal if the rate drop below 0.6617 former low, peak low.

• NZD/USD Trading Tips

Sell from below 0.6617 if NZD/USD drops and stabilizes below this level. The first downside target is seen at 0.6500 psychological level, around the next peak low.

A further drop could be invalidated by a bullish run, growth above 0.6793 level.