The NZD/USD pair has been under bearish pressures since the 29th of December 2015, with the price travelling from up to 0.6882 down to 0.6722.
During the course of the session on Thursday, the pair went back and forth, reaching the high of 0.6866 and the low of 0.6835. Today, the pair fell aggressively from as high as 0.6835 to as low as 0.6719. In the event that the sellers keep pushing lower and the price breaks below 0.6719, the pair could decelerate down to 0.6710 and 0.6686 in extension.
On the other hand, in the scenario where the pair attempts a retracement to the upside and the price breaks above 0.6788, the pair could escalate up to 0.6805 and 0.6823 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.