NZD/USD technical analysis: Holds above 0.64, Tuesday's low is key support

• NZD/USD created a Doji candle on Tuesday, signaling indecision in the market. 
• A break below Doji's low would confirm a bearish reversal. 

NZD/USD is currently trading largely unchanged on the day at 0.6408.

The pair clocked a high and low of 0.6436 and 0.6399, respectively, on Tuesday and ended the day on a flat note at 0.6405 on Tuesday, forming a Doji candle with a long upper shadow.

The Doji candle is widely considered a sign of indecision in the market. Therefore, the immediate bullish outlook stands neutralized.

Acceptance below Doji's low of 0.6399 would mean the period of indecision has ended with a victory for the bears. Put simply, it would confirm a bearish reversal and shift risk in favor of a drop to 0.6330-0.63.

On the other hand, a close above 0.6436 (Tuesday's high) is needed to revive the bullish view.

Daily chart

Trend: Neutral

Technical levels