NZDUSD is breaking down from a structure we discussed last week, but is it still valid considering today’s pullback from the US dollar? NZDUSD is trading below a key level I mentioned last week that may present an opportunity in the coming days. The short-term trend line from the May 21st close had served as support for NZDUSD on several occasions, making Wednesday’s close a potentially significant development. However, there are a couple of important considerations when trading this pair. First, the New Zealand dollar isn’t far away from the 0.6050 key level. That’s been a significant pivot for this market for the ... (full story)