1 articles · Updated · continuumeconomics.com · Oct 19
Summary
.5625 gave way in early trade, extending NZD/USD’s rebound from last week’s .5565 year-to-date low and putting the April low at .5680 in focus.
Daily studies are still rising from oversold territory, signaling the pair may consolidate below .5680 before a later break opens the way to .5700 and .5750 congestion levels.
Support has now been lifted to .5625—previously the June low—which analysts say should help sustain the bounce from .5565.
A move through .5680 would strengthen the case for a broader retracement of losses from the August peak at .5988.