FX.co ★ Technical analysis on NZDUSD for March 29th, 2023

Black line- neckline resistance

Yellow rectangles- higher lows

NZDUSD is trading around 0.6224. Price continues making higher lows but earlier today it formed a lower high. Price thus far is unable to push above the neckline resistance of 0.6275. So far price has gotten rejected several times at this resistance trend line. Today price formed a lower high, which is a sign of weakness. A break below the latest higher low at 0.6175 would be a bearish sign. We continue to be bearish NZDUSD as long as price is below the neckline resistance. A break below 0.6175 will open the way for a move at least towards 0.6085.