NZD/USD breaks long term pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At the end of January, the NZD/USD currency exchange rate broke the channel down pattern, which guided the rate down throughout 2021. Meanwhile, the pair has been declining since the start of November in a smaller channel down pattern.

A continuation of the currency pair might look for support in the 0.6550 mark, which stopped the January decline. Further below, take into account the 2020 September ad August low levels at 0.6510 and 0.6490.

However, a recovery of the NZD against the USD would face the resistance of the 50-day simple moving average and the upper trend line of the three month old channel down pattern near 0.6750.
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