- NZDUSD reversed from strong support level 0.5500
- Likely to rise to resistance level 0.5800
NZDUSD currency pair recently once again reversed up from the strong support level 0.5500, which stopped the previous sharp weekly downtrend at the end of 2022.
The previous upward reversal from the support level 0.5500 created the daily Japanese candlesticks reversal pattern Morning Star – reflecting the strength of the support level 0.5500.
Given the oversold weekly Stochastic, NZDUSD currency pair can be expected to rise to the next resistance level 0.5800.
