NZD/USD Outlook (28 June 2022)
The NZD and AUD relationship continues as the NZDUSD prints a similiar bearish pennant pattern to the AUDUSD.
The NZD found a strong base at the 0.6200 support level, climbing towards horizontal resistance level of 0.6380, since the 15th of June. With a series of weaker than expected economic data releases, the upward climb in the NZDUSD might be losing steam as price consolidates around the 0.63 price level.
Look for price to break the lower diagonal support level for a move lower, towards 0.62 and even towards 0.61 (if the 0.62 level is broken)
The NZD found a strong base at the 0.6200 support level, climbing towards horizontal resistance level of 0.6380, since the 15th of June. With a series of weaker than expected economic data releases, the upward climb in the NZDUSD might be losing steam as price consolidates around the 0.63 price level.
Look for price to break the lower diagonal support level for a move lower, towards 0.62 and even towards 0.61 (if the 0.62 level is broken)
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