NZDUSD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If NZDUSD continues in its current trajectory, we could see it reach 0.5844 within the next 23 hours.
NZDUSD is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
