The 4-hour chart for NZD/USD shows that the pair is forming positive price action between the 0.55 and 0.56 area. Moreover, the formation of a rounding bottom near 0.5850 indicates a bullish outlook. As a result, any correction in the pair is considered a buying opportunity for further upside in NZD/USD.
The recent pullback is driven by short-term strength in the US Dollar Index, which is pressuring the pair to the downside.
