Technical Bias: Slightly Bullish Key Takeaways “¢ New Zealand dollar breaks higher against the US dollar. “¢ NZDUSD pair breaches two important bearish trend lines to trade higher. “¢ NZDUSD support seen at 0.8550 and resistance ahead at 0.8590. New Zealand dollar buyers were seen aggressive earlier during the Asian session against the US dollar, as they managed to break two bearish trend lines which might now act as a support moving ahead. Technical Analysis The NZDUSD pair is trading a little higher intraday, and has managed to climb above few significant short-term resistance levels. The pair has breached two important descending trend lines, which were holding the upside in the pair. One of these after the break acted as a support. The broken resistance zone around the 0.8550 might act as a support in the short term. It is crucial to note that the 50 and 100 hourly simple moving averages are also sitting around the same level. So, if the pair drops from the current levels, then it might find buyers around the mentioned support zone. Any further losses might take it back towards the recent low of 0.8526. There is a probability that the pair might bounce in the short term, which might lead it towards the next resistance zone around the 38.2% Fibonacci retracement level of the last major drop from the 0.8693 high to 0.8526 low at 0.8590. Moreover, the 200 hourly SMA is also sitting just above the mentioned fib level. So, the pair could face hurdles around the 0.8590-0.8600 resistance zone. Moving Ahead There is a key RSI divergence noted on the hourly timeframe, which might result in a pullback. However, it would be interesting to see whether the pair can manage to hold the 0.8550 support area or not for another leg higher. Aayush Jindal Aayush Jindal Aayush Jindal I have spent over six years as a financial markets contributor and observer, and possess strong technical analytical skills. I am a software engineer by profession, loves blogging and observing financial markets. View All Post By Aayush Jindal Forex News Today: Daily Trading News share Read Next Mistakes, I Love You! Why Forex Traders Keep Doing The Guest 9 years Technical Bias: Slightly Bullish Key Takeaways "¢ New Zealand dollar breaks higher against the US dollar. "¢ NZDUSD pair breaches two important bearish trend lines to trade higher. "¢ NZDUSD support seen at 0.8550 and resistance ahead at 0.8590. New Zealand dollar buyers were seen aggressive earlier during the Asian session against the US dollar, as they managed to break two bearish trend lines which might now act as a support moving ahead. Technical Analysis The NZDUSD pair is trading a little higher intraday, and has managed to climb above few significant short-term resistance levels. The pair has breached two… 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.