NZDUSD: Critical Resistance

NZDUSD, Daily

In the Daily timeframe, NZDUSD reached the 38.2 Fibonacci resistance area in a short-term bullish trend. DeMarker is out of the oversold zone, indicating a possible upside move, but William's %R shows short-term overbought.

• If the bulls push the price above 0.6000 resistance, the target will be 0.6080, corresponding to 61.8 Fibonacci;

• A rebound from resistance would bring NZDUSD back to 0.5870 support;