The Kiwi goes back down

The NZD/USD was not able to complete the breakout-and-pullback pattern around the 200 day exponential moving average, blue line, and bounces from the 0.6800 zone to the downside until reaching the 0.6619 level. From the current levels, the price may continue lower towards the 0.6544 zone. To the upside, the 0.6718 or the round number level of the 0.6800 could act once again as resistance. A third scenario that may develop is that the price may stay consolidated at the current levels, due to the fact that it has entered a congestion area.