FX.co ★ NZD/USD

When it comes to NZD/USD, I believe that on Monday we can expect a slight pullback, as on Friday the trading range was broken on a four-hour scale, leaving the level of 0.5860 as a point to at least retest from above for strength. Additionally, the price reached the resistance at 0.5945, where the upper boundary of the Envelopes indicator on the hourly chart is located. Normally, a pullback could be expected from this level, but now we also have a price divergence with the MACD indicator on the hourly scale. In general, I will be waiting for NZD/USD to decline towards the support at 0.5860, where the further price movement direction will be determined.