NZD/USD Tests Former Support Ahead of Federal Reserve Minutes 2021-04-06 20:00:00 David Song, Strategist New Zealand Dollar Talking Points NZD/USD struggles to extend the series of higher highs and lows from the start of the month even as the Relative Strength Index (RSI) breaks out of the downward trend from earlier this year, and the exchange rate may consolidate ahead of the Federal Reserve Minutes if former support acts as resistance. Advertisement NZD/USD Tests Former Support Ahead of Federal Reserve Minutes NZD/USD attempts to retrace the sharp decline from the previous month after defending the February low (0.6943), with the RSI highlighting a similar dynamic as the indicator breaks out of a downward trend following the failed attempt to push into oversold territory.