NZDUSD → Pre-breakdown consolidation. Next, 0.62?

NZDUSD breaks the bearish trend in early May and confirms the fact that bulls appear on the market. The fundamental background is positive and growth can be considered in the long term.

Earlier the price tested a strong descending resistance by a false breakdown. There was no proper reaction in the form of a change of trend or a strong fall. Consolidation is being formed. If the price continues to pull up to the upper boundary of the triangle on D1, the pre-breakout prospect will only intensify. On H1 it is worth paying attention to the range 0.6170 - 0.6083. Anything can happen on the background of the news, so it is worth watching the reakitsa of the ruck to the mentioned borders. A false breakdown of support before further growth is possible.

Resistance levels: 0.6170, 0.6217
Support levels: 0.6083, 0.6000

I expect that the trend may get its continuation. The market is extremely calm now, as there is strong news ahead that could determine the medium-term outlook

Regards R. Linda!

Commentaire:

Resistance Retest.
The session on Friday is closing very well
A quick retest of 0.617 may lead to a breakout and further growth