Technical outlook and chart setups:
1. The NZD/USD pair is seen to be testing a six months support trend line around 0.8530/40 levels as seen here. A turn/bullish bounce could be expected at current levels, though confirmation is still awaited.
2. Support is seen at 0.8480, followed by 0.8400 and lower, while resistance is seen at 0.8700, followed by 0.8830 respectively.
3. The structure indicates that NZD/USD remains at a critical trend line support for now and possibility remain for a bullish bounce.
Trading recommendations:
Initiate 50% long positions, stop at 0.8470, target is open.
Good luck!
