The NZD/USD pair is located at 0.5963 at the time of writing. It’s trapped between 0.5858 and 0.6006 levels. In the short term, it could extend its sideways movement. Technically, the price action signaled that the downside movement ended after jumping and stabilizing above the downtrend line.
The 0.6006 represents an upside obstacle. As long as it stays below it, we cannot talk about an upside reversal. Its failure to come back towards the 0.5858 downside obstacle indicates strong buying pressure.
NZD/USD Trading Conclusion!
Jumping and stabilizing above the 0.6006 former high activates a larger growth. This scenario could help the buyers to catch a larger growth.
The material has been provided by InstaForex Company – www.instaforex.com
NZD/USD Undecided!
The NZD/USD pair is located at 0.5963 at the time of writing. It’s trapped between 0.5858 and 0.6006 levels. In the short term, it could extend its sideways movement. Technically, the price action signaled that the downside movement ended after jumping and stabilizing above the downtrend line.
The 0.6006 represents an upside obstacle. As long as it stays below it, we cannot talk about an upside reversal. Its failure to come back towards the 0.5858 downside obstacle indicates strong buying pressure.
NZD/USD Trading Conclusion!
Jumping and stabilizing above the 0.6006 former high activates a larger growth. This scenario could help the buyers to catch a larger growth.
The material has been provided by InstaForex Company – www.instaforex.com
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