The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: pair to reach previously tested support
2019-11-11 • Updated
There's a 'Triple Bottom', which pushed the market higher, so all the Moving Averages have been broken. Also, we've got a bullish 'Pennant' pattern. However, there's a local 'V-Top' pattern, so the market is likely going to reach the previously tested support at 0.6813. If a pullback from this level happens afterwards, we should watch the already reached resistance at 0.6882 - 0.6892 as an intraday bullish target.
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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