NZDUSD: Long on Breakout!

After oscillating between 6700 and 6770, we anticipate a bullish breakout of the range due to squeezed triangular patterns simultaneously found on the chart. We have two consecutive doji candles and price rejection from 6696 which indicates more of upward strength. Moreover, the seasonal USD strength seen in month of May is also pausing by the end of month and may likely find bearish pressure by June beginning.

Commentaire:

It worked!!!!!

Now we will be anticipating short positions around 6845 being a rock hard resistance.