Technical Analysis

NZD/USD Falling Wedge?

Typography

The NZD/USD drops like a rock and should reach the 0.7053 static support. Remains to see what will happen in the upcoming days because a USDX’s drop will force the pair to increase again. Price could move in range on the short term, I’ve drawn a Falling Wedge pattern, but this is far from being confirmed. The behavior could change if the rate will start to make higher lows and could signal another leg higher.

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
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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