Kiwi (NZDUSD) has developed an inverted H&S formation.

Kiwi has developed an inverted H&S formation where the head is a prior H&S formation indicated previously in our analysis. The 0.6425 area is a key confluence of resistances (neckline, 38.2% Fib and horizontal support / resistance area). A break above it will trigger the formation and target 0.6665, until that happens maintaining a bearish bias against this level makes sense.

NZDUSD Inverted H&S Formation

Steve Voulgaridis