NZD/USD Price Analysis: Bounces from 0.56, eyes trendline hurdle
|- NZD/USD's 15-min chart shows a bullish indicator divergence.
- The pair could soon challenge key falling trendline hurdle.
NZD/USD has bounced from session lows and looks set to challenge a descending trendline hurdle at 0.5671.
The pair is currently trading at 0.5648, having hit a low of 0.5586 in early Asia.
The recovery has confirmed a bullish divergence (higher low) of the relative strength index (RSI) on the 15-minute chart. Additionally, the indicator is reporting a symmetrical triangle breakout.
As a result, further gains look likely. A break above the falling trendline resistance at 0.5671 would open the doors for 0.57.
Alternatively, acceptance under 0.56 could bring in additional declines toward the recent low of 0.5469.
15-min chart
Trend: Intraday bullish
Technical levels
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