© Dukascopy Bank SA
Now the pair is sitting at the recent low but it is likely to bounce off this level before long given that more than two thirds of market players on the SWFX are bullish on the pair. If these expectations materialize, NZD/USD will try to penetrate 0.8544/50 (daily PP, R1; four-hour R1, R2) that if overcome will push the next cluster of resistances at 0.8555/8 (daily R2, R3; four-hour R3) to the fore.
© Dukascopy Bank SA