NZD/USD – H&S breakdown but loss of momentum
Despite the head and shoulder breakdown, the loss of momentum is likely as the intraday indicators are oversold, thus a sideways action around the neckline level of 0.7065 could be seen before the sell-off unfolds.
Bearish invalidation is see only if prices retake the rising trend line and the daily RSI moves back above 50.00 levels.
Bearish invalidation is see only if prices retake the rising trend line and the daily RSI moves back above 50.00 levels.
