NZDUSD closed back above 0.6600. However, this rally isn’t all that convincing.
There’s still a chance NZDUSD stalls out near 0.6700, which could produce a topping pattern in the form of a head and shoulders. I like NZDUSD higher over the long term, but I do expect further weakness before the next leg higher can materialize.
0.6600 is support for the week ahead, with 0.6780 serving as resistance.