NZD crosses have provided the ‘trendiest trends’ in recent weeks. So, today we check out NZD/USD, GBP/NZD and AUD/NZD daily charts to highlight key levels.
NZD/USD Daily
- A strong trend has developed on the Kiwi dollar.
- Currently within a retracement and forming a potential bullish flag formation.
- If successful the eventual target sits around 0.7000.
GBP/NZD Daily
- The cross has crashed over 8% in just 7 weeks, producing a clean bearish trend.
- Currently trades within a corrective channel.
- A break of Jan’s low brings the Oct ‘17 low into focus.
AUD/NZD Daily
- Bearish momentum is accelerating whilst it declines within a descending channel.
- Bias remains bearish beneath the 1.0712 resistance zone.
- A break of 1.0589 targets the April lows.