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New Zealand Dollar / U.S. Dollar

NZDUSD broken restistance?

By TradingFace
Updated
NZDUSD broke out of its channel, and seems to be creating new support on previous resistance trendline.

Im waiting to see if it can hold onto this new support, and break out on the smaller TF trendline resistance.

This could also turn into a short opportunity if the support can't hold.
Note
snapshot Price tested the resistance, indicating that the bulls are ready for a breakout. Careful though as the 200MA is trailing downwards, even though price has broken it.
Chart PatternsTechnical IndicatorsTrend Analysis
TradingFace

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