The NZDUSD formed a double bottom from the price action overnight, with the price rejecting the 0.6131 price area. This has led the NZDUSD to trade higher to retest the 0.62 round number resistance level.
With no major news for the NZDUSD, the current move on the NZDUSD is primarily due to the retracement in the AUDUSD and the brief weakness in the DXY.
As the price rejected the resistance level overnight, look for the current price action to develop to signal a break of the resistance level to signal further upside potential, with the next key resistance level at 0.6262.
With no major news for the NZDUSD, the current move on the NZDUSD is primarily due to the retracement in the AUDUSD and the brief weakness in the DXY.
As the price rejected the resistance level overnight, look for the current price action to develop to signal a break of the resistance level to signal further upside potential, with the next key resistance level at 0.6262.