NZDUSD → Attempt to change the trend amid falling dollar

19 août

NZDUSD is strengthening from the opening session amid the dollar's return to southward movement. Traders are intensifying USD sell-offs amid expectations of interest rate cuts...



Despite the New Zealand Central Bank's interest rate cut, the USD sell-off is more active on the currency pair. The dollar is forming a retest of support, which increases the chances of further decline in the price amid strong sell-offs.
The currency pair is testing the resistance at 0.6083, but at the moment there is a high probability of correction to the imbalance zone. The reason is that we approached the zone too quickly, we need to accumulate the pre-breakout potential. But, if the bulls manage to consolidate above the resistance, then the market will move to the realization phase after the trend line breakout.

Resistance levels: 0.60828, 0.61475
Support levels: 0.6036

Fundamentally, the environment points to the continuation of growth. Technically, the bulls will have to pass through the trigger at 0.60828 to start the realization phase.

Rate, share your opinion and questions, let's discuss what's going on with ★ NZDUSD ;)

Regards R. Linda!

19 août

Transaction en cours

Consolidation is formed near the level

20 août

Transaction en cours

The bulls kept the price down
Resistance breakout and upward momentum is formed

21 août

Trade fermée: cible de profit atteinte

TP1 reached!
+65 pips!

23 août

Transaction en cours

The struggle for resistance continues.
Those who are in the position can continue to hold.
To open an order we need to wait for the bulls to hold the defense above 0.6145.

26 août

Trade fermée: cible de profit atteinte

All goals have been reached!