NZD/USD MAY Slide Down
#trading_idea #NZDUSD 💡
🥝Pay Attention to NZD/USD!
On the 1-hour chart, the price is moving within a short-term ascending channel, showing growing bullish strength. However, the MACD indicates a potential correction downward. Meanwhile, the kiwi dollar surged to an eight-month high of $0.6295, fueled by an upbeat business outlook survey revealing a significant rise in confidence, the highest in a decade. The currency is currently up 0.73% to $0.6291, showing strong support following the Reserve Bank of New Zealand's recent rate cut and signals of possible future cuts.
🔼If the price rebounds from the lower lone of the uptrend channel we may see retest 0.6299 resistance.
🔽Otherwise, if the price breaks down the trendline rebound slide towards support 0.626 is likely.
👋 Show "👍" if you believe the price will increase and "👎" if you believe it will decrease.
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🥝Pay Attention to NZD/USD!
On the 1-hour chart, the price is moving within a short-term ascending channel, showing growing bullish strength. However, the MACD indicates a potential correction downward. Meanwhile, the kiwi dollar surged to an eight-month high of $0.6295, fueled by an upbeat business outlook survey revealing a significant rise in confidence, the highest in a decade. The currency is currently up 0.73% to $0.6291, showing strong support following the Reserve Bank of New Zealand's recent rate cut and signals of possible future cuts.
🔼If the price rebounds from the lower lone of the uptrend channel we may see retest 0.6299 resistance.
🔽Otherwise, if the price breaks down the trendline rebound slide towards support 0.626 is likely.
👋 Show "👍" if you believe the price will increase and "👎" if you believe it will decrease.
➡️GET $20,000 JUST FOR $99
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