Significant upside potential on NZDUSD
Unlike the AUDUSD, the NZDUSD has continued with the recent upward momentum to climb higher overnight, testing the 0.64 resistance level.
Look for the NZDUSD to consolidate below the 0.64 resistance level or even possibly retrace briefly.
However as the uptrend is strong, if the DXY continues to weaken, the NZDUSD could trade higher again after the consolidation/retracement, with the next resistance levels at 0.6450 and 0.6580.
Look for the NZDUSD to consolidate below the 0.64 resistance level or even possibly retrace briefly.
However as the uptrend is strong, if the DXY continues to weaken, the NZDUSD could trade higher again after the consolidation/retracement, with the next resistance levels at 0.6450 and 0.6580.