NZD/USD Analysis: Reveals new pattern

Dukascopy Bank Team Dukascopy Bank SA

NZDUSD

The New Zealand Dollar has revealed a new junior ascending channel pattern against the US Dollar. The channel pattern guided the currency pair towards the upper boundary of a dominant descending channel at 0.6774 on Wednesday.

As for the near future, it is likely that the NZD USD exchange rate will continue to maintain the junior ascending channel pattern.

Meanwhile, technical indicators flash sell signals on the daily time frame chart. Therefore, the currency exchange rate could aim for the lower boundary of the channel pattern at 0.6746 within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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