FX.co ★ NZDUSD remains under pressure

NZDUSD reached earlier today the previous lows we recently tested at 0.6696. The RSI continues making higher lows providing bullish divergence signals in the Daily time frame. The downside potential is limited. NZDUSD technically remains in a bearish trend, but a reversal is expected soon.

NZDUSD could make new lows towards 0.6680-0.6670, but I believe that price will bounce again at least towards 0.6750. At current levels I prefer to be neutral if not bullish as I see more chances of a strong bounce above 0.6830 than continuing lower for much longer. Resistance is at 0.68.