NZD/USD technical analysis: Forming a inverse head-and-shoulders

• NZD/USD is creating a bullish reversal pattern on the hourly chart. 
• A move above 0.6547 is needed to confirm a breakout.

The NZD/USD pair is mildly bid this Tuesday morning in Asia and appears to be creating an inverse head-and-shoulders bullish reversal pattern with the neckline resistance at 0.6547. 

An hourly close above that level would confirm a breakout and open the doors to 0.6580 (target as per the measured move method). 

However, a rejection at the neckline resistance followed by a move below 0.6529 would shift risk in favor of a drop to levels below 0.65. 

Hourly chart

Trend: Bullish above 0.6547

Pivot points