NZD/USD Sell Signals

Downside risks have pressured the New Zealand Dollar lower against the US Dollar since yesterday’s trading session. A breakout occurred through the lower boundary of a descending channel pattern on Friday morning.

Given that a breakout had occurred, the NZD/USD exchange rate will most likely continue to edge lower within this session. The weekly S2 at 0.6219 could provide support for the pair today.

A potential upside reversal could occur from the weekly S2, as mentioned earlier, during the following trading session.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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