- Analytics
- News and Tools
- Market News
- NZD/USD Price Analysis: Bears break the neckline of H1 head and shoulders, 0.6420 eyed
NZD/USD Price Analysis: Bears break the neckline of H1 head and shoulders, 0.6420 eyed
- NZD/USD is breaking to the downside and an H&S pattern.
- There are prospects of a move to mitigate the price imbalance between there and the old swing highs near 0.6420.
As per the prior analysis, NZD/USD Price Analysis: The bears are taking over and trying to move towards a 50% mean reversion, the price did indeed meet the 50% ratio target but this proved to be a firm support area from which the bulls in from. However, there are prospects of a move to the downside from the topping pattern since made in the same time frame.
NZD/USD H1 prior analysis
NZD/USD H1 live chart
The price has moved created a head and shoulders topping formation on the hourly chart and has breached the neckline/support zone in recent trade. The bears are taking over control. A restest of the support zone would be typical at this stage and if it holds, there would be prospects of a move to mitigate the price imbalance between there and the old swing highs near 0.6420.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
