NZD/USD – More upside potential

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Updated: 29 June 2020

Good day traders! The NZD/USD has been rocketing to the upside since the low in March this year and price might still test the 31st of December 2019 high.

TradingView NZD USD Chart June 2020

Since the high on the 10th of June, price has been consolidating and might head slightly lower before the next upward move follows.

Although the NZD/USD has the potential to head towards the 10th of June high at 0.6584 or even the 31st of December high at 0.6755, we must be mindful that a deeper decline will most likely follow afterward.

More updates to follow.

Bias: Cautiously bullish

Potential targets: 0.6584 and 0.6755

Until next time, have a great day and stay safe!

Richard Krugel