FX.co ★ NZD/USD: larger drops needs confirmation

NZD/USD Exhausted Buyers!

The NZD/USD pair is trading lower after reaching 0.6252 today. Its failure to approach and reach 0.6288 higher high signaled exhausted buyers. 0.6158 and the uptrend line represent downside targets and obstacles.

As long as the price stays above the uptrend line, the currency pair could resume its growth. An upside continuation could be activated if it jumps above 0.6252 today's high.

NZD/USD Trading Conclusion!

A new selling opportunity could appear if the rate drops and stabilizes below 0.6158 and below the uptrend line.