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03.05.2023 05:55 PM
NZD/USD: upside continuation confirmed
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NZD/USD Strong Buyers!

The NZD/USD pair resumed its growth and now is trading at 0.6234. You knew from my previous analysis that the currency pair signaled a larger growth after jumping above 0.6153 and above the downtrend line.

Technically, the former high of 0.6219 was seen as an upside obstacle. I told you yesterday that jumping above 0.6219 activates further growth.

NZD/USD Trading Conclusion!

The breakout through 0.6219 represented a buying opportunity. The rate retested the broken obstacle announcing more gains ahead.

Ralph Shedler,
Analytical expert of InstaTrade
© 2007-2025

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