Technical alert: NZDUSD

NZDUSD has been trading in an upward move since March 19. Nevertheless the pair broke below the trendline yesterday which may suggest a return to a downward trend. The 0.5915 handle is the key level to watch for now. If the price stays below it, there is a chance for a test of the support at 0.5750, where the lower limit of Oveblance structure is located. On the other hand, a break back above the zone marked with red colour may herald another upward impulse.

NZDUSD H1 interval. Source: xStation5

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Forex Technical analysis

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