NZD/USD’s hourly chart shows a contracting triangle pattern. A breakout would validate the bullish pattern seen on the daily chart. NZD/USD has created a narrowing price range over the past 48 hours or so, marking a weak follow-through to a bullish falling channel breakout confirmed by Thursday’s 0.51% gain. The immediate bias will remain neutral as long as the pair is trapped in the contracting triangle (narrowing price range) seen on the hourly chart. A move above the top end of the triangle, currently at 0.7212, would validate the daily chart falling channel breakout confirmed last week and open the doors for a re-test of the Jan. 6 high of 0.7315. Alternatively, a range breakdown would shift risk in favor of a drop to the Jan. 18 low of 0.7096. Daily and hourly charts Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures print mild losses as US stimulus gridlock battles upbeat vaccine updates FX Street 1 year NZD/USD's hourly chart shows a contracting triangle pattern. A breakout would validate the bullish pattern seen on the daily chart. NZD/USD has created a narrowing price range over the past 48 hours or so, marking a weak follow-through to a bullish falling channel breakout confirmed by Thursday's 0.51% gain. The immediate bias will remain neutral as long as the pair is trapped in the contracting triangle (narrowing price range) seen on the hourly chart. A move above the top end of the triangle, currently at 0.7212, would validate the daily chart falling channel breakout confirmed last week and open the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
