The currency pair is located at 0.6087 at the time of writing. As you can see on the 15m chart, the rate failed to extend the downtrend and now it has passed above the downtrend line indicating that the downside movement ended and that the buyers could take it higher.
Technically, the former high of 0.6101 represents an upside obstacle. In the short term, NZD/USD is trading sideways as the price tries to attract more buyers before jumping higher.
NZD/USD Trading Conclusion!
Jumping and stabilizing above 0.6101 activates further growth. This scenario brings new buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
NZD/USD Extended Range!
The currency pair is located at 0.6087 at the time of writing. As you can see on the 15m chart, the rate failed to extend the downtrend and now it has passed above the downtrend line indicating that the downside movement ended and that the buyers could take it higher.
Technically, the former high of 0.6101 represents an upside obstacle. In the short term, NZD/USD is trading sideways as the price tries to attract more buyers before jumping higher.
NZD/USD Trading Conclusion!
Jumping and stabilizing above 0.6101 activates further growth. This scenario brings new buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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