NZD/USD Buyers Still In Game!
The NZD/USD pair slipped lower in the short term after reaching 0.5853. Technically, this level represents an upside obstacle. Now, it came back to retest the broken downtrend line which represents a downside obstacle.
Also, the 0.5807 represents a downside obstacle as well. As long as it stays above these levels, the rate could try to extend its growth. Escaping from the major down channel announced a potential upside reversal.
NZD/USD Trading Conclusion!
Staying above 0.5807 and above the downtrend line, the EUR/USD pair could come back towards 0.5853. Jumping above this upside obstacle activates further growth. This could be seen as a buying opportunity.
