Ella 
NZD/USD fell to a new year-to-date (YTD) low of 0.5815, but by the end of the U.S. session, NZD/USD had recovered some of its losses and closed down 0.11% on Thursday. After the opening of the Asian session, NZD/USD extended its losses for four days, closing at 0.5843, down 0.08%.
NZD/USD has made new cycle lows and is now trending lower after hitting a multi-month high near 0.6384 in July, followed by a series of lower highs and lower lows. For a bearish continuation, NZD/USD would need to break below 0.5815, which would allow the bears to challenge 0.5800 and then last year’s swing low of November 22 at 0.5740.
If NZD/USD reverses trend and continues higher, the first resistance level will be at 0.5900. A clear break above this level could see the bulls target the 50-day EMA at 0.5931 before heading towards 0.600. The next resistance level is the 200-day moving average at 0.6149.
