Technical Analysis of Daily Price Movement of NZD/USD Commodity Currency Pairs, Tuesday May 9 2023.
May 9, 2023 5:22 am
After trying to test its weekly support level for the second time at the level of 0,6079 on the daily chart which coincidentally also forms a Bullish 123 pattern, then the Kiwi is currently trying to rally up to test the nearest resistance level at 0.6375 as the main target and 0.6535 as the second target especially if on the way to the targets of these levels there is no correction movement down below the level of 0.6079 because if this level is successfully broken down it will invalidate the upward rally scenario described previously.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
After trying to test its weekly support level for the second time at the level of 0,6079 on the daily chart which coincidentally also forms a Bullish 123 pattern, then the Kiwi is currently trying to rally up to test the nearest resistance level at 0.6375 as the main target and 0.6535 as the second target especially if on the way to the targets of these levels there is no correction movement down below the level of 0.6079 because if this level is successfully broken down it will invalidate the upward rally scenario described previously.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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