FX.co ★ NZD/USD at crossroads

NZD/USD upside seems limited

The NZD/USD pair failed to reach and the 0.6832 static resistance, the upside obstacle. You already know from my previous analysis that the currency pair could develop a larger upwards movement if it jumps and stabilizes above 0.6832.

The immediate low of 0.6793 represents a downside obstacle. Dropping and staying below this level may announce a deeper drop and invalidate the upwards scenario.

NZD/USD trading concluson

Staying above 0.6793 and jumping above 0.6832 could validate an upside continuation and could bring new buying opportunities.