NZD/USD is lower in today’s trading, reversing the bulk of Thursday’s move to the upside. The pair is currently trading at 0.7197, down 0.47%. NZD/USD moved sharply higher this week after the release the FOMC meeting minutes on Wednesday, advancing to test resistance at the February 16 high at 0.7242. This high tested and failed NZD/USD’s 20-day moving average and represents an approximate 50% retracement of the decline from the February high to the February reaction low.These converging levels of resistance were able to turn the pair away and, as a result, a retest of first support is now possible. First support ... (full story)