Daily Price Action
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Will the NZDUSD .864 Level Hold as Support This Time?

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The .864 level on NZDUSD represents an interesting supply and demand exchange. As can be seen in the chart below, this level has acted as support and resistance several times in recent weeks.

There’s actually one more high that touched this level on March 18th that wouldn’t fit on the chart.

At the moment, price action is holding this level as indicated by the bullish rejection in the chart below. It should be noted that although this level has served as support and resistance several times in recent weeks, it’s also been broken several times.

We’ll have to wait and see what the daily close has to offer.

nzdusd daily chart

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