NZDUSD, WEEKLY

TECHNICAL ANALYSIS

The pair gave off a quick sell for more than a month after a strong reaction from the R resistance zone showed by rejection of prices indicated by the pin bar.

The price is now reacting to previous support zone held by trendline X. Close below X can lead price into support zone around 0.68975 marked T. Close below T may lead price into the S zone around 0.66220. Close above R disqualifies the setup.