The US dollar is acting up again, today it decided to weaken, and significantly so. In the currency pair NZDUSD, buyers surged upwards and momentarily rose above 0.5980. Below 0.5950, sellers pushed the price back, but it is still unclear whether this is a pullback before a continuation of the uptrend or a true reversal to the south. If buyers manage to hold above 0.5950 in the near future, then it will be possible to return to 0.5965 and 0.5980. Holding above 0.5980 will open the way for bulls to reach 0.6010 and 0.6040. If the weakness of the US dollar was a temporary setback and the bears can stay below 0.5950, then the downside movement can target 0.5935 and 0.5920 - from there a rebound may occur and the uptrend may resume. Holding below 0.5920 may lead to a decline to 0.5905 and 0.5890, if these levels are breached, then it will be possible to move down to 0.5875, 0.5860, and 0.5845, and then levels of 0.5830 and 0.5815 may appear on the horizon.
