NZDUSD has been in an aggressive downtrend since its double rejection at the 0.6217 region in early March. Although the pair posted a fresh five-month bottom of 0.5851 last week, it seems that the retreat has paused for now. Given that both the RSI and MACD remain tilted to the downside, the price might revisit 0.5899, which is the 78.6% Fibonacci retracement of the 0.5772-0.6380 upleg. A violation of that region could pave the way for the 0.5858-0.5851 range, defined by the recent five-month bottom and the September-November support. Failing to halt there, the pair could challenge the 2023 low of 0.5772. On the ... (full story)