NZDUSD tests the 2023 lows at 0.61299

The NZDUSD is testing - well now breaking - the lows from 2023 at 0.61299. A move below the level will open the downside. It would take the price to the lowest level since November 23, 2022.

Looking at the daily chart, the move lower today has also taken the price below the 38.2% retracement of the move up from the October low. That level comes in at 0.6145, and is now a close risk level for sellers.

Further selling, and the natural support at 0.6100 followed by the swing area between 0.6055 – 0.60844 would be targeted (see daily chart below.