As the DXY strengthened overnight, the NZDUSD traded significantly lower, as the price reversed from the 0.5950 price level, down to 0.59, which coincides with the 50% fib retracement level from the longer term.
The NZDUSD looks to be entering into the support area formed by the 50% and 61.8% fib retracement level.
Anticipating a continuation in DXY strength, look for the NZDUSD to break lower from the support level to trade down to the previous swing low at 0.5780