NZDUSD continues to coil within a contracting triangle, forming a symmetrical wedge bounded by lower highs and higher lows. Price is approaching the resistance zone near 0.6028, with visible indecision and rejection wicks, signaling potential for either breakout or rejection.
Key Levels:
Resistance: 0.6028 (structural ceiling, key pivot)
Support: ~0.5800 (ascending support line of wedge)
Breakout Target (Bullish): 0.6150–0.6200
Breakdown Target (Bearish): 0.5650–0.5550
Scenarios to Watch:
🔹 Bearish Rejection
Price rejects off 0.6028 and returns inside range
Watch for momentum drop and move toward wedge base (0.5800)
Clean breakdown opens path toward April lows (~0.5509)
🔹 Bullish Breakout
Break and hold above 0.6028
Confirmation on 4H close + retest
Opens room for bullish extension toward 0.6150+
Outlook:
Price is nearing apex compression, suggesting breakout is imminent.
Bias is neutral until price breaks out of the current wedge structure.
Expect volatility spike around the 0.6028 test.
Key Levels:
Resistance: 0.6028 (structural ceiling, key pivot)
Support: ~0.5800 (ascending support line of wedge)
Breakout Target (Bullish): 0.6150–0.6200
Breakdown Target (Bearish): 0.5650–0.5550
Scenarios to Watch:
🔹 Bearish Rejection
Price rejects off 0.6028 and returns inside range
Watch for momentum drop and move toward wedge base (0.5800)
Clean breakdown opens path toward April lows (~0.5509)
🔹 Bullish Breakout
Break and hold above 0.6028
Confirmation on 4H close + retest
Opens room for bullish extension toward 0.6150+
Outlook:
Price is nearing apex compression, suggesting breakout is imminent.
Bias is neutral until price breaks out of the current wedge structure.
Expect volatility spike around the 0.6028 test.
Trade active
Note
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✔️Free Daily Profitable Signals
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.