NZDUSD, “New Zealand vs. US Dollar”
As we can see in the H4 chart, after breaking the descending channel’s downside border and forming a Hammer reversal pattern, NZDUSD is expected to reverse and get back into the channel. In this case, the target may be at 0.6185. Later, the price may resume trading downwards.
At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may fall towards 0.5959 without forming any serious corrections.
Orgin: RoboForex
