Having bounced from 0.6450-60 horizontal support, the NZDUSD managed to test the highest level in nearly a month; however, eight month old descending trend-line resistance, near 0.6665-70, may limit its further upside, favoring a pullback to 0.6590 immediate support, encompassing 50-day SMA and 23.6% Fibonacci Retracement of its April – September downside. Should the pair continue observing the descending trend-line and breaks 0.6590, it can re-test 0.6450-60 support, breaking which 0.6380 is likely an intermediate support level before the pair could aim for September lows of 0.6235. Moreover, an extended decline ... (full story)