[NZDUSD] WEEKLY ANALYSIS (part 1)

Good morning Traders,

The US-China trade war certainly influences currencies like New Zealand dollar, and in the short term, volatility may remain high on the pair, in fact we do not see a clear direction on the weekly chart. That said, as we can see from the chart below, the pair has worked properly on our medium-term support, but that does not mean the trend is bullish. From a technical point of view, even if the position is not correct, the weekly chart has formed something like a “hammer pattern” and this will be our driver for the next week.

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