NZDUSD fell on Tuesday, and the technical bias was bearish due to lower lows in the recent downtrend.
The pair is currently trading near 0.71921, and multiple resistance levels can be seen above which may prevent the price from rising further.
- Resistance level 1: 0.72050
- Resistance level 2: 0.72350
- Resistance level 3: 0.72550
Below the price, multiple support levels can be found which may prevent the price from falling.
- Support level 1: 0.71770
- Support level 2: 0.71600
- Support level 3: 0.71320
United States will release May inflation data on Thursday. Higher data will indicate favorable to the US dollar, which is negative for the NZDUSD currency pair, and vice versa.
Looking at the current rice trend and economic development, it may be a good trading choice to sell the pair near the current level.