NZDUSD → Resistance Retest. Fed meeting ahead...
Updated
NZDUSD is set to go higher. The price is breaking the local resistance within the uptrend. There is an important event ahead, which can affect the price quite strongly... On D1 the market is hinting at bullish prospects, a retest of the global resistance is forming, which divides the market into 2 parts...
Traders are waiting for the FOMC and FED meeting at 18:00, where officials will decide on the interest rate cut. The main question is 0.5% or 0.25%. The first will be a strong bullish signal for the currencies, the dollar will accelerate its downward movement on this background. The second value may slightly disappoint traders and the market reaction will be ambiguous. In any case, the general course of rate cuts sets the main tone in the market, it remains to wait only for specific numbers.
Support levels: 0.61528, 0.61244
Resistance levels: 0.62095, 0.62544
Technically, the bullish trend continues, as hinted by the local situation on the chart. Traders believe in the favorable background. I believe that the Fed's decision will strengthen the general market trends and in this case the currency pair will head towards the upper boundary of the channel....
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Regards R. Linda!
Trade active
Consolidation is forming above the key level
Waiting for news...
Trade active
The market continues to push the bullish trend forwardTrade closed: target reached
Target 1 reached!
Trade active
The bullish trend continues. The currency pair updated the maximum to 0.6356Trade active
Waiting for consolidation above 0.63Trade active
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