The NZD/USD pair escaped from a triangle pattern. A valid breakdown below the ML may activate further declines. Technically, a strong bullish pattern here above the immediate support levels could signal a bullish momentum. The US Prelim UoM Consumer Sentiment could bring sharp moves in the NZD/USD pair later. The NZD/USD price has recovered a little after the most recent sell-off. It has rebounded amid the Dollar Index correction lower after reaching a dynamic resistance. From the technical point of view, the price is still bullish as long as it stays above strong downside obstacles. -Are you looking for the best CFD broker? Check our detailed guide- The USD is still very strong in the short term after the United States retail sales data came better than expected in August. The Retail Sales rose by 0.7% versus 0.7% drop expected, while the Core Retail Sales registered a 1.8% growth compared to 0.1% decline expected. The NZD/USD dropped yesterday even though the New Zealand GDP registered a 2.8% growth versus 1.1% expected compared to 1.4% growth registered in the last reported period. Today, the Business NZ Manufacturing Index was reported at 40.1 below 62.2 in the last reporting period. The NZD/USD pair hovers above support. The US Prelim UoM Consumer Sentiment could be decided later today. The indicator is expected to rise from 70.3 to 71.9 points which could be good for the USD. Get FREE Forex Signals Now! NZD/USD price technical analysis: Bullish view remains intact NZD/USD 4-hour price chart analysis The NZD/USD price failed to stabilize above the 61.8% retracement level. Now it has dropped and retested the 50% retracement level. As a result, it has escaped from the triangle pattern, but it’s still located above strong downside obstacles. -Are you looking for forex robots? Check our detailed guide- From the technical viewpoint, the price could increase as long as it stays above-ascending pitchfork’s median line (ML). Dropping and stabilizing below it may signal further drop. Personally, I’ll stay away and wait for a fresh opportunity around the 50% level and after the pair reaches the median line (ML). Its current decline, retreat, was somehow expected after failing to reach the ascending pitchfork’s upper median line (UML). A false breakdown with great a doji candle or a major bullish engulfing could bring new upside movements. On the other hand, DXY’s rise may boost the USD, so a valid breakdown through the median line (ML) may announce a strong drop. Looking to trade forex now? Invest at eToro! Trade Forex Now! 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next USD/CHF Price Accelerates Rally, Bulls Aiming for 0.93 Saqib Iqbal 1 year The NZD/USD pair escaped from a triangle pattern. A valid breakdown below the ML may activate further declines. Technically, a strong bullish pattern here above the immediate support levels could signal a bullish momentum. The US Prelim UoM Consumer Sentiment could bring sharp moves in the NZD/USD pair later. The NZD/USD price has recovered a little after the most recent sell-off. It has rebounded amid the Dollar Index correction lower after reaching a dynamic resistance. From the technical point of view, the price is still bullish as long as it stays above strong downside obstacles. -Are you looking for 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.