The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: 'Double Top' pushed price lower
2019-11-11 • Updated
The last 'Double Top' pushed the market lower, so all the Moving Averages have been broken. It seems like there's a developing 'Falling Wedge' pattern. Thus, it's likely that the pair is going to test the nearest resistance at 0.6813 in the coming hours. If a pullback from this level happens little later on, bears will probably try to reach the next support at 0.6789 - 0.6772.
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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