NZD/USD downside ended
The NZD/USD pair jumped above the downtrend line, and now it has turned to the upside. Passing and stabilizing above the downtrend line indicated that the downside movement could be over. The rate tried to test and retest the broken downtrend line, but it failed, signaling exhausted sellers and strong upside pressure.
It has climbed as high as 0.6347 today, where it has found a strong supply. Now, it was trading at 0.6320. The rate dropped and little trying to retest the 0.6314 former high. As long as it stays above this level, the NZD/USD pair could resume its growth.
NZD/USD trading conclusion
A new higher high, jumping and stabilizing above 0.6347 could confirm further growth. This is seen as a buying opportunity as well.
