NZD/USD: short-term triangle

NZD/USD: short-term triangle

2021-03-17 • Updated

The USD has been getting stronger against the NZD since March 11. Currently, the lower highs are aligned into what seems to be a possible upper side of the triangle formation which has 0.7160 as its support zone.

If that's the case, soon, the support of 0.7160 may be crossed downwards opening the way for bears down to 0.71.

Fed's announcement today may accelerate the process - let's check it out!

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