{"id":18033,"date":"2021-11-12T06:25:00","date_gmt":"2021-11-12T06:25:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=18033"},"modified":"2021-11-12T11:40:24","modified_gmt":"2021-11-12T11:40:24","slug":"nzdusd-technical-analysis-wedge-test-still-on-track","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/nzdusd-technical-analysis-wedge-test-still-on-track\/","title":{"rendered":"NZDUSD Technical Analysis &#8211; Wedge test still on track"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18033\" class=\"elementor elementor-18033\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-256a215 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"256a215\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-75f7c2a\" data-id=\"75f7c2a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-67ab686 elementor-widget elementor-widget-text-editor\" data-id=\"67ab686\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The New Zealand dollar has had a horrid week on the foreign exchange market against the US dollar last week, as the pullback from the 0.7200 resistance level continues to gather pace.<\/p><p>It is a fair comment to say that the losses in the <a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\" rel=\"noopener\">NZDUSD<\/a> pair are not too severe as compared to the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> or <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair, seeing as the NZDUSD pair is only 200 points away from its yearly high.<\/p><p>If we compare this with the GBPUSD and EURUSD pair, the GBPUSD pair is nearly 1,000 points away from 2021 trading high, while the EURUSD is also close to 1,000 points lower.<\/p><p>This simple comparison lets us know that the New Zealand dollar is still quite strong compared to other G-7 currencies. The question now is how low can the NZDUSD pair go?.<\/p><p>The main correction spot, and potential huge dip-buying opportunity, appears to be the top of a falling wedge pattern, close to the 0.6855 area. It is possible that if the NZDUSD pair crack the 0.7000 support level then the NZDUSD could fall sharply.<\/p><p>With the <a href=\"https:\/\/bit.ly\/3zVm8kX\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> breaking to the upside, much will depend on what the buck does. Gains past the 95.00 mark and the US dollar index could easily hit 98.00, which would send the NZDUSD pair much lower<\/p><p>Failure in the US dollar index around the 95.00 mark and the NZDUSD pair could rally from the 0.7000 level. In summary, the potential reversal spot is either 0.7000 or 0.6855 in my opinion.<\/p><p>According to the ActivTrader market sentiment tool some 51 percent of traders are bearish towards the NZDUSD pair. As we typically look to fade sentiment biases, this is making it to read sentiment as a leading indicator now.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b80fa2f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b80fa2f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bd0f8ee\" data-id=\"bd0f8ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-643ae6c elementor-widget elementor-widget-image\" data-id=\"643ae6c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"447\" height=\"163\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/11\/NZDUSD-CHART.png\" class=\"attachment-large size-large wp-image-18038\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-64f6467 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"64f6467\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8807509\" data-id=\"8807509\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e8dd32 elementor-widget elementor-widget-text-editor\" data-id=\"7e8dd32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>NZDUSD Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that a breakout from an ascending triangle pattern is currently underway. This is not a good sign for bulls looking for a reversal from the 0.7000 level.<\/p><p>If the breakout holds then a correction back to the 0.6900 to 0.6850 region seems plausible. If bulls recover the breakout, then a rally towards the 0.7250-0.7280 level is likely.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-369301e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"369301e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d948ff4\" data-id=\"d948ff4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-597e676 elementor-widget elementor-widget-image\" data-id=\"597e676\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"561\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/11\/NZDUSD-4H.png\" class=\"attachment-large size-large wp-image-18040\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3c4df301 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c4df301\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-727e3cc6\" data-id=\"727e3cc6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22a4eba elementor-widget elementor-widget-text-editor\" data-id=\"22a4eba\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-026a1eb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"026a1eb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-813ff5a\" data-id=\"813ff5a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78171bf elementor-widget elementor-widget-text-editor\" data-id=\"78171bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>NZDUSD Medium-Term Technical Analysis<\/strong><\/p><p>The daily time frame shows that the pair looks to be targeting a retest of a large falling wedge pattern. These types of patterns are typically considered to be classic bullish reversal pattern.<\/p><p>According to technical analysis a retest of the wedge seems more likely than while the NZDUSD pair trades under the 0.7000 level. Buying a retest of the wedge breakout around the 0.6855 level seems the best strategy for the bulls.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-61c569a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"61c569a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8d0e723\" data-id=\"8d0e723\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b97998 elementor-widget elementor-widget-image\" data-id=\"2b97998\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"555\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/11\/NZDUSD-1D.png\" class=\"attachment-large size-large wp-image-18045\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2a9002f2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2a9002f2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e0ec60f\" data-id=\"e0ec60f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-741f2395 elementor-widget elementor-widget-text-editor\" data-id=\"741f2395\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2KflF5J\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The New Zealand dollar has had a horrid week on the foreign exchange market against the US dollar last week, as the pullback from the 0.7200 resistance level continues to gather pace. It is a fair comment to say that the losses in the NZDUSD pair are not too severe as compared to the GBPUSD [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":18035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[18,20,53,40],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NZDUSD Technical Analysis - Wedge test still on track - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/nzdusd-technical-analysis-wedge-test-still-on-track\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NZDUSD Technical Analysis - Wedge test still on track\" \/>\n<meta property=\"og:description\" content=\"The New Zealand dollar has had a horrid week on the foreign exchange market against the US dollar last week, as the pullback from the 0.7200 resistance level continues to gather pace. It is a fair comment to say that the losses in the NZDUSD pair are not too severe as compared to the GBPUSD [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/nzdusd-technical-analysis-wedge-test-still-on-track\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-12T06:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-12T11:40:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/11\/GettyImages-1152499808.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/nzdusd-technical-analysis-wedge-test-still-on-track\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/nzdusd-technical-analysis-wedge-test-still-on-track\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"NZDUSD Technical Analysis &#8211; 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