NZD/USD Temporary Drop?
The NZD/USD pair dropped after reaching the 0.6920 level. Actually, a temporary drop was somehow expected after its amazing growth. Now, it's trading at 0.6819 at the time of writing. It remains to see how it will react after reaching the 0.6810 former high which stands as a downside obstacle.
Staying above this level may announce that the NZD/USD pair could develop an upside movement. On the other hand, dropping below this downside obstacle may signal more declines.
NZD/USD Trading Conclusion!
Dropping below 0.6810 former high and under 0.6804 today's low may confirm a deeper drop and could help the sellers to catch a larger drop.
