NZD-USDThe NZD/USD pair has shown interesting price action recently:
✅ Downtrend Channel Broken: The strong bearish trend finally saw a breakout above the descending trendline.
✅ Retest Completed: After the breakout, the price retested the trendline, confirming it as new support.
✅ Strong Support Zone: The pair is currently hovering around a critical support area (0.5473 - 0.5526), which aligns with the monthly low—a key decision point for bulls and bears.
✅ Potential Bullish Setup: If the support holds, we could see a bullish reversal aiming towards the 0.58 area. However, a break below this zone could trigger further downside pressure.
💡 Watch closely:
Bullish confirmation above 0.56 could signal a potential rally.
A break below 0.5473 may invalidate the bullish scenario.
🚀 Key Levels:
Support: 0.5473 - 0.5526
Resistance: 0.57 - 0.58
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