Technical analysis on NZDUSD for March 31st, 2023.
March 31, 2023 11:23 am
Black line- neckline resistance
Yellow rectangles- higher lows
NZDUSD is trading around 0.6260. Price recently tested the black neckline resistance for the 4th time and it seems it is getting rejected once again. In the near term price continues making higher lows. The black neckline resistance has been a confirmed key resistance level. Bulls are gathering power to break above it and produce a bullish signal. This can be seen by the weakening of the sellers and the higher lows formation. Support is now important at 0.6198. Bulls do not want to see price break below the latest higher low.
The material has been provided by InstaForex Company – www.instaforex.com
Black line- neckline resistance
Yellow rectangles- higher lows
NZDUSD is trading around 0.6260. Price recently tested the black neckline resistance for the 4th time and it seems it is getting rejected once again. In the near term price continues making higher lows. The black neckline resistance has been a confirmed key resistance level. Bulls are gathering power to break above it and produce a bullish signal. This can be seen by the weakening of the sellers and the higher lows formation. Support is now important at 0.6198. Bulls do not want to see price break below the latest higher low.
The material has been provided by InstaForex Company – www.instaforex.com
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