29.11.202220:49 Forex Analysis & Reviews: NZD/USD: larger drops needs confirmation

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.