NZDUSD is about to retest a key horizontal support level near 0.5861. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
Supports and resistances are primary concepts of technical analysis. NZDUSD is heading for an important price of 0.5861 – read about what this could mean for the future.
