- NZD/USD benefits from New Zealand Finance Minister Robertson’s comments.
- Sustained trading above 61.8% Fibonacci retracement can recall buyers.
- A confluence of 100-HMA, weekly resistance line become the key.
While bouncing off seven-day low, NZD/USD takes the bids to 0.6020 as markets in Tokyo open for Thursday. In doing so, the kiwi pair pierces 61.8% Fibonacci retracement of its April 23-30 upside.
Read: New Zealand Finmin Robertson: New Zealand will remain among least-indebted of peer nations
Given the sustained break of the key Fibonacci retracement, the quote is extending the recoveries to 50% Fibonacci retracement level of 0.6045.
However, a confluence of 100-HMA and a downward sloping trend line from April 30, around 0.6050/55, will question the buyers afterward.
On the downside, sellers could look for entries below a horizontal area comprising lows since late-April 24, around 0.5990, which in turn could recall 0.5960 on the charts.
NZD/USD hourly chart
Trend: Further recovery expected
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