FX.co ★ NZD/USD: downtrend intact

NZD/USD Under Selling Pressure!

The currency pair is located at 0.5828 at the time of writing. As long as it stays below the downtrend line, the price could extend its drop anytime. It's trapped between 0.5859 former high (upside obstacle) and the former low of 0.5818 (downside obstacle).

From the technical point of view, its failure to reach and retest the downtrend line signaled strong sellers.

NZD/USD Trading Conclusion!

Dropping below the former low of 0.5818 may announce more declines and is seen as a selling opportunity.