NZD/USD dropped below the major uptrend line signaling a potential corrective phase, decline. The pair has shown some exhaustion signs after its failure to stabilize somewhere above 0.6788 former high.
You should know that NZD/USD could come back to test and retest the broken uptrend line before going down. We may have a selling signal if the rate drop below 0.6617 former low, peak low.
- NZD/USD Trading Tips
Sell from below 0.6617 if NZD/USD drops and stabilizes below this level. The first downside target is seen at 0.6500 psychological level, around the next peak low.
A further drop could be invalidated by a bullish run, growth above 0.6793 level.
