The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD: 'V-Top' pushing price lower
2019-11-11 • Updated
The price is declining because of the last 'V-Top' pattern. There's a new local low and we have no any bearish pattern so far. In this case, the market is likely going to achieve the previously tested support at 0.6751 - 0.6743 in the coming hours. If a pullback from these levels happens thereafter, there'll be an opportunity to have an upward correction towards the nearest resistance at 0.6786 - 0.6807.
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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The stock market has reversed, and now it’s going lower and lower…