NZD/USD is currently trading near 0.7215, representing a 0.15% drop on the day.
The pair has failed multiple times to establish a foothold above 0.7250 earlier this week. That, alongside the latest drop to 0.7215, has neutralized the bullish view put forward by a triangle breakout confirmed on Feb. 8.
The pair now risks falling below 0.72 with the hourly chart MACD histogram and Relative Strength Index signaling bearish conditions.
A close above 0.7255 (Feb. 9 high) is needed to put the bulls back into the driver’s seat. That would open the doors for a re-test of 0.7315 (Jan. 6 high).
Daily chart
Trend: Neutral
Technical levels
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