NZD/USD has carved out a double top pattern on the daily chart. A close below the neckline support of 0.6601 would confirm a breakdown. NZD/USD’s daily chart shows a double top pattern – the buyers failed to chew through offers around 0.68 on Friday and on Sept. 2. The Sept. 9 low of 0.6601 is the neckline support of the double top pattern. A close below that level would create room for a sell-off to 0.64 (target as per the measured move method). A drop to 0.6601 looks likely, as the daily chart is showing a bearish reversal candlestick pattern. The pair fell by 1.23% on Monday, validating or confirming the bullish-to-bearish trend change signaled by Friday’s inverted hammer. At press time, the pair is trading at 0.6674, having hit a low of 0.6653 early today. A close above 0.68 is needed to invalidate the bearish candlestick pattern. Daily chart Trend: Bearish 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 Firms report easing coronavirus supply chain disruptions in South China – Survey FX Street 1 year NZD/USD has carved out a double top pattern on the daily chart. A close below the neckline support of 0.6601 would confirm a breakdown. NZD/USD's daily chart shows a double top pattern – the buyers failed to chew through offers around 0.68 on Friday and on Sept. 2. The Sept. 9 low of 0.6601 is the neckline support of the double top pattern. A close below that level would create room for a sell-off to 0.64 (target as per the measured move method). A drop to 0.6601 looks likely, as the daily chart is showing a bearish reversal candlestick pattern.… Top 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.
