NZD/USD Technical Analysis – Breakout
The 4-hour chart for NZD/USD shows that the price has broken the key level of $0.5870 and initiated a strong rally. This rally was pushed above a major resistance, supporting a further upside. The breakout suggests that AUD/USD may also follow this momentum due to the strong correlation between AUD and NZD. The $0.5870 level has now become a strong short-term support.
