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HomeContributorsTechnical AnalysisNZD/USD Is The Correction Completed?

NZD/USD Is The Correction Completed?

MultiBank Exchange Group
By MultiBank Exchange Group

NZD/USD is trading in the green right now, but failed to reach the 0.7257 Friday’s high. Has managed to come back above the red downtrend and above the minor uptrend line. Looks like that the price action is developing a Falling Wedge pattern, but this is far from being confirmed. The false breakdown below the downtrend and the uptrend has invalidated a potential Head and Shoulders for now.

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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