NZDUSD HIT Multi months Resistance, potential reversal expected.
NZD/USD has managed to come back below long term trend line (Pre-COVID 19 Resistance) from multi Year Low 0.5450, TheCurrently NZDUSD outlook is Limited bullish as the price hit 4-Months HIGH 0.6540 (Below Trend line).
We could have another long opportunity if NZD/USD closes or break above 0.6575 and stabilizes above the 0.6570- 0.6590 area. This scenario could announce an increase also towards the R2 (0.6730) level.
Another short opportunity could appear if NZD/USD decreases and closes below the 0.6510 previous low. Daily and weekly Base price showing weakness and coming weeks expecting some correction downside towards support level 0.6250. If 0.6240 breakout with a huge separation above the 0.6157 - 0.5940 area will bring a short opportunity as well.
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🛑SUPPORT/RESISTANCE
✅S1= 0.6240
✅S2=0.6000
✴️R1=0.6540
✴️R2=0.6730
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We could have another long opportunity if NZD/USD closes or break above 0.6575 and stabilizes above the 0.6570- 0.6590 area. This scenario could announce an increase also towards the R2 (0.6730) level.
Another short opportunity could appear if NZD/USD decreases and closes below the 0.6510 previous low. Daily and weekly Base price showing weakness and coming weeks expecting some correction downside towards support level 0.6250. If 0.6240 breakout with a huge separation above the 0.6157 - 0.5940 area will bring a short opportunity as well.
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🛑SUPPORT/RESISTANCE
✅S1= 0.6240
✅S2=0.6000
✴️R1=0.6540
✴️R2=0.6730
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.