NZDUSD 9 Jun 2023. Looking at NZDUSD on the weekly timeframe. It was seen bearish two weeks ago but has now returned to a bullish trend. However, the pair is still below the S1 line at 0.60893. If the pair is able to break S1 towards R1, then go-long could be an option. However, if a trend reversal does occur after touching S1 then go-short is an option. In addition, the possibility of a trend reversal is also reinforced by the MFI indicator which shows this pair is below the 50 level with a declining chart. Trade with caution with risks that are ready to be accounted for.
