Possible Head & Shoulders Set-Up on NZD/USD
NZDUSD
: Kiwi dollar rallied significantly last week with the RBNZ surprising markets; keeping the OCR at 1.00% Price action is showing significant weakness at a key level of resistance, with the formation of a rather abnormal head & shoulders pattern.
A break of the neck line seen around the 23.6% fibonacci could see a longer term push to retest the yearly lows, and even start to set new lows for 2019.