FX.co ★ Technical analysis of NZD/USD For July 24, 2018

At the 4-hour chart, the kiwie dollar looks like forming a Pennant pattern. NZD/USD is trading with lower volatility. This market conditions are normal because in two days ahead the price will enter the Mercury Retrograde phenomenon which is running from July 26, 2018 until August 18, 2018. In this period, the market is moving slowly, trading sideways. The market tends to be choppy. That's why we can see NZD/USD start making a narrow range in a Pennant / Triangle Form. This indicates that the market has lost volatility. Please take a notice approximately on August 8-10, 2018 (10 workdays after the Mercury Retrograde start) as there is a possibility for the price to break out from its narrow condition. (Disclaimer)