NZDUSD has pulled back of late after tagging the 0.6720 area.
However, I think sellers need to be careful here.
The pair is still trading above the top of that multi-year wedge pattern.
I’ve written about this structure several times, and also talked about the false break out in the past Weekly Technicals
That confirmed false move supported the bullish narrative that’s been developing since April.
As long as 0.6500 is intact as support, I like the idea of a higher NZDUSD.
Key resistance comes in at 0.6720, with a close above that taking on the 0.6940 region.
However, I think sellers need to be careful here.
The pair is still trading above the top of that multi-year wedge pattern.
I’ve written about this structure several times, and also talked about the false break out in the past Weekly Technicals
That confirmed false move supported the bullish narrative that’s been developing since April.
As long as 0.6500 is intact as support, I like the idea of a higher NZDUSD.
Key resistance comes in at 0.6720, with a close above that taking on the 0.6940 region.
