NZDUSD: Testing significant support

NZDUSD, Weekly

In the Weekly timeframe, NZDUSD has formed a range pattern, and the price tests the lower boundary. William's %R indicates a strong oversold pattern, and the CCI is out of oversold, which makes two scenarios possible.

• If NZDUSD falls below 0.5800 support, it will fall to 0.5550;

• A rebound from support will bring the price back to 0.6050;