New Zealand Dollar to US Dollar Rate moves in a downward trend since mid-2014 year. The movement of prices over the past four months took the shape of the downward channel, in which the price has dropped from 0.77 to 0.65. In early August NZDUSD broke out successfully from the downward channel and created a consolidation. Yesterday it made a dynamic move downward breaking the bottom of a consolidation and then a moment later it returned to the inside. The support that stopped the descent is in the level of 0.6135, and these are the levels at which the NZDUSD has not been since 2009.
Interval H4 After returning to the consolidation NZDUSD tries to break next intraday resistance which is the level of 0.6530. If the break will be successful the target of move up will be level 0.6700.
