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New Zealand Dollar Weekly Technical Forecast

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by , 01-06-2019 at 03:42 PM (194 Views)
      
   
NZDUSD has consistently traded lower in recent weeks and now trades below resistance from the trendline originating on December 4th. The head and shoulders pattern sent the pair lower and after a strong Friday performance, the Kiwi looks poised to test the trendline next week. A failed test would serve as strong confirmation for a sustained move lower and continuation of the recent trend.

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Another price point to watch in the week ahead includes 0.6700, a round number that has provided moderate support and resistance in the past six months. Coupled with nearby resistance from the December 4th trendline, a break below 0.6700 could serve to drive the pair lower in earnest.

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