NZDUSD trading lower and looking to reach new lows

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There is a corrective move taking in place at H1 chart, where the NZDUSD is trying to reach the resistance zone of 0.6499.

During the today’s opening session, Kiwi has been trading lower below daily pivot point level of 0.6454 and that’s why a pullback shouldn’t be discarded in the coming hours.

However, if a breakout happens above the resistance level of 0.6499, it would be expected to test the 200 SMA on this timeframe.

MACD indicator remains at negative territory.

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