The NZD/USD pair is showing signs of weakness after failing to break a strong resistance area. This rejection has led to the formation of a new lower high along with a Rising Wedge pattern, both of which indicate a strong bearish outlook.
Based on these technical signals, NZD/USD has the potential to decline further toward the predefined target price area.
Recommendation:
- Sell NZD/USD
- Entry: 0.58900
- Take Profit: 0.58649
- Stop Loss: 0.59067
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
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