NZD/USD, H4 22 March 2024
The NZD/USD pair has displayed a double-top pattern, indicating a potential bearish trend. Despite favourable trade balance data released today, the New Zealand dollar has been overshadowed by a strengthened U.S. dollar. With a lack of bullish catalysts for the Kiwi at present, the pair faces challenges in reversing its trend.
The NZD/USD pair has formed a double-top pattern, suggesting a potential fresh bearish trend.
Resistance level:0.6050, 0.6100📉
Support level: 0.6005, 0.5950📈
The NZD/USD pair has displayed a double-top pattern, indicating a potential bearish trend. Despite favourable trade balance data released today, the New Zealand dollar has been overshadowed by a strengthened U.S. dollar. With a lack of bullish catalysts for the Kiwi at present, the pair faces challenges in reversing its trend.
The NZD/USD pair has formed a double-top pattern, suggesting a potential fresh bearish trend.
Resistance level:0.6050, 0.6100📉
Support level: 0.6005, 0.5950📈