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New Zealand Dollar / U.S. Dollar
Long

NZDUSD → Trend Change. Consolidation before the impulse

By RLinda
Updated
NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed.

snapshot

The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the support of the range forming above the bearish channel is possible with the aim of further growth. The currency pair has a potential and with the breakout of 0.604 the price may start to realize the accumulated potential and strengthen to 0.608 or 0.617.

Resistance levels: 0.604
Support levels: 0.600, 0.5983

Most likely trading inside the range may continue. False breakdown of support and further strengthening to resistance is possible, but further price reaction to resistance will show us the readiness of the market to go in one direction or another.

Regards R. Linda!
Trade active
The bulls are keeping the price in a zone that favors them
Expect continued growth next week
Trade active
0.600 is an important support area
NZD may head towards the resistance on the background of the dollar index decline
Trade active
Consolidation above the key level continues
There is a chance to catch a shakeout (false break of support) before further growth
Trade active
snapshot
Trade active
That's great. The bulls are successfully gaining the specified area. A 40 pips impulse is forming
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That's great!
The Bulls have done their job.
The target has been reached
Trade active
Price is heading towards the second and final target within the idea
Trade active
Waiting for a retest of 0.6083 for further growth
Trade active
snapshot
There's not much left to the key goal :)
Trade closed: target reached
Chart PatternsconsolidationDescending ChannelDXYFibonacci RetracementFundamental AnalysisNZDNZDUSDSupport and ResistanceTrend AnalysisTrend Line BreakZigzag
RLinda
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