FX.co ★ NZD/USD: larger drop from below 0.6301

NZD/USD Forecast!

The NZD/USD pair increased a little within an up channel in the short term. Now, it's trading at 0.6333. As long as it stays above the uptrend line, the price could resume its growth. The downtrend line and 0.6301 represent downside obstacles.

Testing and retesting the downside obstacles and staying above may announce a new upside movement.

NZD/USD Trading Conclusion!

Staying near the downside obstacles may announce a breakdown. Dropping and stabilizing below 0.6301 may announce more declines. This scenario could bring new selling opportunities.