NZD/USD IS Very Bearish

NZD/USD moved sharply to the downside today and fell with over 130 pips after forming a spinning top candlestick and a hanging man candlestick on the four-hour time-frame below the resistance at 0.6950, together with several similar candlesticks on the one-hour time-frame below the same level, all of which were a good indication for this move to the downside. The pair formed a new low at 0.6817 and bounced off of it but it is currently consolidating above and testing the support at 0.6830. A breakout below that support and below the new low at 0.6817 will likely lead to a further move to the downside towards 0.6780 – 0.6770.