Following two weeks of losses, NZDUSD is now aiming to find a firm footing around 0.6000, having dropped to a four-month low of 0.5984. The latest bearish wave has re-activated the downtrend from December’s peak of 0.6368. Overcoming the 61.8% Fibonacci retracement of the October-December upleg at 0.6000 may prove difficult, leading to a decline below the support trendline at 0.5980 and a subsequent search for support around the 0.5900 constraining zone. Even lower, the decline could take a breather near the 0.5858 barrier. From a technical point of view, a rebound is still possible in the coming sessions, as both ... (full story)