The Kiwi NZD/USD has retraced enough to back-test the L/T descending channel’s T/L resistance as support. This T/L is now confluence with the 61.8% Fib of the last move higher at 0.6050.
This is clearly a trend-defining zone for the pair since it dates back to 2021. A break below it will open more D/S while a rebound from here keeps the pair in bullish mode.