NZD/USD rallied in European trading today, driven by bearish pressure on the US Dollar. The pair extended higher within its recovery to post a marginal high for the week and to test an important declining trendline. The declining trendline in NZD/USD connects the September high with the November high and is seen as an important technical indicator following recent technical developments. After the turn lower in September, there has been a succession of lower lows and lower highs as well as a break from a channel that held the pair higher from the start of 2016. The combination of technical developments pointed to a ... (full story)