NZDUSD Chart Technical Outlook

NZDUSD Chart Technical Outlook corrects higher, bulls target 0.5970

NZD/USD’s broad bias is bearish. Prices found support this week and bounced higher on mild risk on appetite and stubborn inflation data from New Zealand. There is room for an upside price action toward the 50% Fibo retracement level of the recent sell-off at 0.5970. If broken, the pivot level at 0.6000 would be the following barrier. Supports are located at 0.5880 and 0.5860.

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