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HomeContributorsTechnical AnalysisNZD/USD Stabilized In The Red Zone

NZD/USD Stabilized In The Red Zone

MultiBank Exchange Group
By MultiBank Exchange Group

Price is trading in the red and tries to resume the corrective phase. Price squeezed a little in the US session and recovered after the massive drop. NZD/USD is trading near the 0.7150 level and looks determined to breakdown below the down sloping line (dotted line), which will confirm a further drop. Technically is expected to drop more than 300 pips after the breakdown below the Head and Shoulders neckline.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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