Generally we have a uptrend in NZDUSD but in Weekly and Daily time frames, MACD shows a negative regular divergence and price is approaching to the resistance level. In 1 Hour, there is an Expanded triangle pattern and price got rejected by the upper side of it. It seems like a bearish reversal head and shoulders pattern is going to be created and price may retrace a little bit. IF the head and shoulders pattern created and the neckline broken out to the downside, price may drop around 0.7255 which is our first demand level and IF there was any rejection by that level, we can expect the price to rise again. Otherwise, price may go lower around the second demand level which is around 0.7215 and then start to grow. What is your view about this pair?
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