I’ve seen a few ideas circulating that NZDUSD is bearish! For me this is not the case and I see bullish potential to the area around 0.6000, why?
1.If you check the 4h chart you can see a strong level around 0.54 (support in this case) it has been tested multiple times, there is also another strong level around the 0.6 area (resistance in this case)
2. Price on the 1 hour chart has broke 0.54 and had a great retest and bounce off the level
3. Last but not least a really strong bullish break of structure which indicates a lot more potential to the upside level of around 0.6
So all in all yes I am bullish to the level 0.6, good luck traders!
1.If you check the 4h chart you can see a strong level around 0.54 (support in this case) it has been tested multiple times, there is also another strong level around the 0.6 area (resistance in this case)
2. Price on the 1 hour chart has broke 0.54 and had a great retest and bounce off the level
3. Last but not least a really strong bullish break of structure which indicates a lot more potential to the upside level of around 0.6
So all in all yes I am bullish to the level 0.6, good luck traders!
