The NZD/USD pair has been trending upwards since the 18th of November 2015. The downward movement began from as low as 0.6428 to as high as 0.6595.
At the early European Session, the price drop from 0.6596 down to 0.6564. In the event that the buyers gain momentum and manage to push the price to break above, the pair could rise again up to 0.6595.
Conversely, in the scenario where the sellers keep exerting strong downward pressures and the price breaks below 0.6505, the pair could decelerate down to 0.6490 and 0.6476 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.