NZDUSD broke a support level at around 0.61000 in the 4-hour timeframe. It has retested it and is now in a downtrend. In the 1-hour timeframe, it has formed a channel, which it has retested 3 times on each line. It has formed a strong rejection (shooting star) candlestick at both the resistance and the upper line of the channel. There is a high chance that the price will continue downwards to 0.60590.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.