Hello traders, the US dollar has slightly weakened today, but it is too early to talk about a reversal to the north in the NZDUSD currency pair. The price has risen to 0.5875, but from here it may continue to decline. If buyers are truly ready for an upward movement, then they need to consolidate above 0.5890 before continuing to rise towards 0.5905, 0.5920, and 0.5935 - where a reversal or at least a pullback down is possible. If the bulls manage to hold above 0.5935, then the upward movement may continue towards 0.5950, 0.5965, and 0.5980, with further developments to be observed. However, if they fail to consolidate above 0.5875-0.5890, then sellers may push the NZDUSD price back to 0.5860 and 0.5845. A consolidation below 0.5845 could lead to a decline towards 0.5830 and 0.5815, with further direction to be determined.
