The NZD/USD price has rebounded in the short term, but this could still only temporarily bounce. So, the pressure is still on the upside as long as it stays within the major channel’s body. Nevertheless, the pair has managed to rise as the Dollar Index has plunged. –Are you interested to learn more about forex options trading? Check our detailed guide- It remains to see what will really happen on the DXY after reaching strong support. The NZD/USD pair is trading in the red right now at 0.6958 level, far below 0.6985 today’s high. Surprisingly or not, the Greenback is still strong even though the US unemployment Claims increased unexpectedly in the last week. The economic indicator was reported at 419K above 350K expected and compared to 368K in the previous reporting period. The US existing home sales increased from 5.80M to 5.86M, failing to reach the 5.89M estimate, while the CB Leading Index increased only by 0.7% versus 0.8% expected. Get FREE Forex Signals Now! Tomorrow, the US Flash Manufacturing and Services PMI data could be decisive. Better than expected figures could lift the DXY and could send the NZD/USD lower. Only poor figures could weaken the Greenback. NZD/USD price technical analysis: sweet spots to catch NZD/USD price 4-hour analysis The NZD/USD price has surged, and it reached near the weekly pivot point (0.6987) level. However, the pressure remains high as long as it stays under the down trendline. Failing to reach and retest the down trendline signals a downside breakout from the ascending pitchfork’s body. –Are you interested to learn about forex robots? Check our detailed guide- Technically, the pair has escaped from the narrow range, but it has failed to stay under 0.6922 to be able to resume its decline. Dropping again under this level could bring us a selling opportunity. The NZD/USD price failed to approach and reach the down channel’s support. That is why we can think of an upside breakout as long as it stays near the downtrend line. Registering a valid breakout through the down trendline could signal an important upwards movement. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Majors share Read Next EUR/USD Price False Breakout Post ECB, Looking for Eurozone Data Olimpiu Tuns 4 months The NZD/USD price has rebounded in the short term, but this could still only temporarily bounce. So, the pressure is still on the upside as long as it stays within the major channel's body. Nevertheless, the pair has managed to rise as the Dollar Index has plunged. -Are you interested to learn more about forex options trading? Check our detailed guide- It remains to see what will really happen on the DXY after reaching strong support. The NZD/USD pair is trading in the red right now at 0.6958 level, far below 0.6985 today's high. Surprisingly or not, the Greenback is… 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.