NZDUSD: Kiwi dollar rallied significantly last week with the RBNZ surprising markets; keeping the OCR at 1.00% Price action is showing significant weakness at a key level of resistance, with the formation of a rather abnormal head & shoulders pattern.
A break of the neck line seen around the 23.6% fibonacci could see a longer term push to retest the yearly lows, and even start to set new lows for 2019.
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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.