NZDUSD was weak last week despite the Dollar's weakness. NZDUSD closed the trading week with a new daily low. The Cup and Handle pattern is ready to be triggered - The trigger will be with a breakdown of the 0.685-0.69 support zone. In case of a breakdown, next target zone for NZDUSD is 0.67
But, if NZDUSD will rally and close back up above 0.69, it can trigger a false break scenario and send NZDUSD once again to test the psychological level 0.7.
Focus on 0.685-0.69 this week and use these trading scenarios if you agree with them.
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Comment
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Bullish scenario reached target zone. 0.71 is a resistance