NZD/USD: The End of The Bearish Trend?

The bearish NZD/USD trend has lasted for quite a while now. Opening short positions seemed to be a safe way to make profits. However, Forex trading can occasionally throw you a curveball and that is pretty much what happened here too. NZD/USD formed a pair of spinning tops above the support at 0.6500 and the pair started climbing. It has almost reached the resistance at 0.6665 and should it break above that resistance it might continue towards target 0.6840. All that does not necessarily mean that the bearish trend is over – as you can see on the screenshot above there have been such movements to the upside before and they were just temporary setbacks on the way down.