NZDUSD WEEKLY CHART

TECHNICAL ANALYSIS

The weekly price is back into a major trendline support zone formed since July 2015. This is a third touch of the trendline and can also easily lead to break of the trendline.  Preferably for the break down, price stays along the trendline T without a weekly candle closing above resistance marked R.

A weekly candle close below trendline T can lead price into support zone marked A around 0.65862. If the momentum is strong enough, the price can go as deep as support zone B after reaction on A support zone.