The NZDUSD continues to trade in a choppy range, and the recent move above the old ceiling between 0.60183 and 0.60284 is showing signs of fading. That swing area—tested multiple times over the past few weeks—remains a key barometer for near-term bias.
A sustained move back below 0.60183 would shift the tilt back to the downside, putting pressure on buyers who failed to hold the breakout. Watch for momentum to pick up on either side of this zone.
This article was written by Greg Michalowski at www.forexlive.com.
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