NZDUSD is on the verge of a breakout and upward reversal.
In a previous analysis of
NZDUSD
, I mentioned that as long as the 0.6 zone remains intact, the decline from the recent high could not be categorized as more than a mere correction.
Since then, the pair has consolidated but has remained resiliently above the mentioned level. Last week brought about a new reversal from the support level, and as of the current writing, the pair is pushing for an upward breakout.
I believe we will witness this breakout sooner rather than later, with the 0.6350 resistance level as the target in this instance.
NZDUSD
, I mentioned that as long as the 0.6 zone remains intact, the decline from the recent high could not be categorized as more than a mere correction. Since then, the pair has consolidated but has remained resiliently above the mentioned level. Last week brought about a new reversal from the support level, and as of the current writing, the pair is pushing for an upward breakout.
I believe we will witness this breakout sooner rather than later, with the 0.6350 resistance level as the target in this instance.
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The idea remains unchanged: Buy dips for this pair with 0.6350 target