The idea that NZDUSD could weaken over the coming weeks is real. If you saw my forecast from two weeks ago, you know why, at least from a technical perspective. The rising wedge on the daily time frame hints at the potential for a pullback. However, the higher time frames suggest any weakness may be temporary. {chart} Notice how the NZDUSD is holding well above its multi-year trend line following the March false break. As long as the New Zealand dollar is above that level near 0.6400 on the higher time frames, I can’t get too bearish. Furthermore, any pullback here could introduce a new bullish structure. {chart} The ... (full story)