Trend Overview:
NZDUSD remains in a bullish uptrend, with recent price action showing a corrective pullback towards a previous consolidation zone, now acting as a key support at 0.5676.
Key Levels:
Support: 0.5676 (key level), 0.5660, 0.5640
Resistance: 0.5730, 0.5750, 0.5770
Bullish Scenario:
A bounce from 0.5676 would reinforce the support level, signaling a continuation of the uptrend. A breakout above 0.5730 may drive further gains toward 0.5750 and 0.5770 in the longer term.
Bearish Scenario:
A daily close below 0.5676 would weaken the bullish outlook, increasing the likelihood of a retracement toward 0.5660, with 0.5640 as the next downside target.
Conclusion:
NZDUSD remains bullish above 0.5676, with potential upside targets at 0.5730, 0.5750, and 0.5770. However, a break below 0.5676 could shift momentum to the downside, targeting 0.5660 and 0.5640. Traders should monitor price action at 0.5676 for confirmation of the next move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
NZDUSD remains in a bullish uptrend, with recent price action showing a corrective pullback towards a previous consolidation zone, now acting as a key support at 0.5676.
Key Levels:
Support: 0.5676 (key level), 0.5660, 0.5640
Resistance: 0.5730, 0.5750, 0.5770
Bullish Scenario:
A bounce from 0.5676 would reinforce the support level, signaling a continuation of the uptrend. A breakout above 0.5730 may drive further gains toward 0.5750 and 0.5770 in the longer term.
Bearish Scenario:
A daily close below 0.5676 would weaken the bullish outlook, increasing the likelihood of a retracement toward 0.5660, with 0.5640 as the next downside target.
Conclusion:
NZDUSD remains bullish above 0.5676, with potential upside targets at 0.5730, 0.5750, and 0.5770. However, a break below 0.5676 could shift momentum to the downside, targeting 0.5660 and 0.5640. Traders should monitor price action at 0.5676 for confirmation of the next move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.