NZD/USD Forecast. Remain bullish despite a correction

NZD/USD Technical Analysis – Correction

The 4-hour chart for NZD/USD shows that the pair is correcting from the resistance at $0.5770 toward the support region at $0.5660. This support is defined by the neckline of an inverted head and shoulders pattern. The RSI suggests further downside before a potential rebound. Meanwhile, forming an inverted head and shoulders within the ascending broadening wedge indicates that bullish momentum is building amid strong volatility.