NZD/USD 4H Analysis – Bullish Channel Holding Support
Market Structure & Trend Analysis:
The price is moving within a well-defined ascending channel, with multiple touches on both support and resistance.
Recent bounce from the lower trendline suggests the bullish structure is still valid.
The blue arrow indicates a potential upside move toward the channel’s upper boundary.
Key Levels to Watch:
Support: 0.5700 (lower trendline and historical reaction zone).
Resistance: 0.5850 - 0.5900 (upper trendline & previous rejection area).
RSI & Volume Analysis:
RSI is at 43.21, showing a weak momentum but near oversold levels, suggesting possible bullish reversal.
Volume is moderate, meaning we may need a stronger confirmation before a breakout.
Trade Considerations:
📈 Bullish Scenario: If price holds above 0.5700, we could see a push towards 0.5850 - 0.5900.
📉 Bearish Scenario: A breakdown below the channel could trigger a decline toward 0.5600.
⚠️ Confirmation Needed: Look for bullish candlestick patterns before entering long trades.
Market Structure & Trend Analysis:
The price is moving within a well-defined ascending channel, with multiple touches on both support and resistance.
Recent bounce from the lower trendline suggests the bullish structure is still valid.
The blue arrow indicates a potential upside move toward the channel’s upper boundary.
Key Levels to Watch:
Support: 0.5700 (lower trendline and historical reaction zone).
Resistance: 0.5850 - 0.5900 (upper trendline & previous rejection area).
RSI & Volume Analysis:
RSI is at 43.21, showing a weak momentum but near oversold levels, suggesting possible bullish reversal.
Volume is moderate, meaning we may need a stronger confirmation before a breakout.
Trade Considerations:
📈 Bullish Scenario: If price holds above 0.5700, we could see a push towards 0.5850 - 0.5900.
📉 Bearish Scenario: A breakdown below the channel could trigger a decline toward 0.5600.
⚠️ Confirmation Needed: Look for bullish candlestick patterns before entering long trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.