NZD/USD reverses trend, rises to 0.5920
Hi everybody! Today the NZD/USD pair reversed trend and rose to 0.5925 from the Kiwi recovery supported by stronger-than-expected China data making the NZD/USD pair stronger than expected.
Looking at the technical picture of the NZD/USD pair on the 4-hour chart, we can see that the pair has returned to the expected short-term bearish resistance line.
Given that the uptrend line remains intact we must stick to the script and aim higher. If that happens, it is likely to reach the psychological level of 0.59600. Many buyers can be invited to join the market.
Looking at the technical picture of the NZD/USD pair on the 4-hour chart, we can see that the pair has returned to the expected short-term bearish resistance line.
Given that the uptrend line remains intact we must stick to the script and aim higher. If that happens, it is likely to reach the psychological level of 0.59600. Many buyers can be invited to join the market.
