NZD/USD violates five-month-long descending trendline resistance. The technical breakout is yet to draw stronger bids for the Kiwi. NZD/USD is struggling to capitalize on the bullish breakout on the daily chart. The pair rose for the third straight day on Wednesday and closed above the resistance of the trendline connecting Jan. 2 and March 9 highs, marking an upside break of the 2020 bearish trendline. So far, however, that has failed to invite stronger buying pressure. The pair is currently trading in the red near the trendline support (former hurdle) at 0.6132, having put in a high of 0.6158 during Wednesday’s US trading hours. A deeper pullback, possibly to 0.61, could be seen as the hourly chart is reporting a bearish divergence of the relative strength index. That said, the bullish daily chart outlook would be invalidated only if the spot finds acceptance under Wednesday’s low of 0.6063. Daily chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Analysis: BTC/USD bulls stage a comeback as confluence detector shows lack of strong resistance levels FX Street 2 years NZD/USD violates five-month-long descending trendline resistance. The technical breakout is yet to draw stronger bids for the Kiwi. NZD/USD is struggling to capitalize on the bullish breakout on the daily chart. The pair rose for the third straight day on Wednesday and closed above the resistance of the trendline connecting Jan. 2 and March 9 highs, marking an upside break of the 2020 bearish trendline. So far, however, that has failed to invite stronger buying pressure. The pair is currently trading in the red near the trendline support (former hurdle) at 0.6132, having put in a high of 0.6158 during… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.