NZD/USD steps back from a four-day-old descending resistance line. Weekly support line can offer immediate rest ahead of 200-HMA. Bulls remain cautious unless clearing 100-day EMA. NZD/USD drops to 0.6120 amid the initial trading session on Tuesday. Although the recent risk-on sentiment keeps the Antipodeans light, a short-term falling trend line triggers the Kiwi pair’s latest declines. Considering the strength of the trend line resistance, the quote might revisit an ascending trend line from May 19, at 0.6089 now. However, 200-HMA near 0.6055, could chain the NZD/USD bears below the weekly support line, if not then the return of 0.6000 can’t be ruled out. On the upside, a clear break above the said resistance line, at 0.6130, can refresh the monthly top near 0.6160. Though, the 100-day EMA level on the daily chart, around 0.6170, will remain as the strong upside barrier holding keys for further run-up towards 0.6200 round-figure. NZD/USD hourly chart Trend: Pullback expected 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 The latest attempt to bring Bitcoin on the Ethereum blockchain goes live FX Street 3 years NZD/USD steps back from a four-day-old descending resistance line. Weekly support line can offer immediate rest ahead of 200-HMA. Bulls remain cautious unless clearing 100-day EMA. NZD/USD drops to 0.6120 amid the initial trading session on Tuesday. Although the recent risk-on sentiment keeps the Antipodeans light, a short-term falling trend line triggers the Kiwi pair’s latest declines. Considering the strength of the trend line resistance, the quote might revisit an ascending trend line from May 19, at 0.6089 now. However, 200-HMA near 0.6055, could chain the NZD/USD bears below the weekly support line, if not then the return of 0.6000… Regulated 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.
