NZDUSD makes a false break of the ascending price channel. If the retest is successful and the price consolidates above the support line, there will be confidence in future price growth.
The trend may continue if the bulls keep the price inside the ascending channel. In this case, the fundamental factors will accompany the price.
The moving averages are support (there was also a false break-up of the SMA)
Strong support: the lower boundary of the ascending channel, level 0.627
Strong resistance level: 0.6325, 0.6389
I expect consolidation of the price above the channel support with the subsequent growth at 0.6400 and up to 0.6500
The trend may continue if the bulls keep the price inside the ascending channel. In this case, the fundamental factors will accompany the price.
The moving averages are support (there was also a false break-up of the SMA)
Strong support: the lower boundary of the ascending channel, level 0.627
Strong resistance level: 0.6325, 0.6389
I expect consolidation of the price above the channel support with the subsequent growth at 0.6400 and up to 0.6500
