The NZDUSD is testing the RBNZ low and lower trend line
Key level for traders
Looking at the hourly chart, the low from the RBNZ rate cut day and a lower trend line connecting lows from May 13 and earlier today are being tested at 0.6520 area. It is a tempting level for buyers/profit takers to enter as risk can be defined and limited against the level. A move below, however should be respected as the trend is still down in the pair.