Technical analysis of NZD/USD 01/22/2019

The NZD/USD currency pair is found resistance at 0.6750, from where it was rebounded, practicing a downward correction as part of the formation of an upward channel on a 1D timeframe. At this point quotes are consolidating at 0.6600.

Technically, there is reason to suppose the correction will continue to intersect the lower boundary of the ascending channel with the broken upper boundary of the channel in the level of 0.6570. After that will be the resumption of growth of quotes in the channel with a target above 0.6780.

Cancellation of the pair growth option after the completion of the correction will be a quotes decrease below the level of 0.6500, what will entail breaking through the lower boundary of the channel and indicate a possible change in trend.


Created by Joshua Hayn

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