empty
 
 
31.03.2023 06:58 PM
NZD/USD standing below strong upside obstacle

This image is no longer relevant

NZD/USD Imminent Breakout!

The NZD/USD pair is located at 0.6263 at the time of writing. As you can see on the H1 chart, it stands below 0.6273 - 0.6291 supply zone (upside obstacle). The rate turned to the downside after reaching this zone, that's why this is seen as an upside obstacle (resistance).

After jumping above the downtrend line, the NZD/USD pair signaled that the downside movement ended and that the buyers could take it higher. The uptrend line represents a downside obstacle. As long as it stays above it, the price could jump higher.

NZD/USD Trading Conclusion!

Jumping above 0.6291 today's high validates further growth. This offers a buying opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback