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.
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.
