NZDUSD Is Going Nowhere But Down
Today’s close marks a very critical point for NZDUSD. Taking a look at the daily chart, NZDUSD is currently testing a support zone. Taking a look at the chart shot, it appears the pair is already crossing over, but it is never a good idea to act on the current bar as its formation is still underway. Keeping that in mind, here’s the chart:
This resistance zone turned support in June, 2014 and rallied up quite a bit reaching a new high before crashing down.