NZD USD - COMING TO CONFLUNCE
NZD USD has been in a downtrend in 2019 .
This pair showed signs of recovery in SEP-DEC when inverted head and shoulder pattern was formed.
Neckline was broken in DEC, which also led to the break of long term resistance.
Price is retesting the same trendline which it broke.
Their is a point of conflunce (Marked by RED Arrow), in case price comes to those levels it would be comfortable buy.
Lets watch out for .6572 levels to come... and upside of 164 pips.
This pair showed signs of recovery in SEP-DEC when inverted head and shoulder pattern was formed.
Neckline was broken in DEC, which also led to the break of long term resistance.
Price is retesting the same trendline which it broke.
Their is a point of conflunce (Marked by RED Arrow), in case price comes to those levels it would be comfortable buy.
Lets watch out for .6572 levels to come... and upside of 164 pips.