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Trading signals for #NZDUSD → Shake-up the support of the uptrend. Bullish potential

2023-07-31 07:19 FOREX forecast

💡Ideas For NZDUSD 🇳🇿/🇺🇸

📈 NZDUSD → Shake-up the support of the uptrend. Bullish potential

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NZDUSD forms a false breakout after retesting trend support, so we have the prerequisites for a new bullish movement

The price returns to the boundaries of the ascending channel after the support shake. Earlier, there was a shake-up of resistance, and the price fell to support. The price tests the Fibo 0.236 and forms a consolidation above this line, the support line also coincides.

Consolidation of the price above this area will form a bullish potential, and in the medium term, the price may show strengthening.

The global trend remains neutral, the local trend is still bullish. Moving averages may give a signal in the near term.

Support levels: 0.236 Fibo, Trend support

Resistance levels: 0.382 fibo, 0.6305

I expect the price to consolidate above this support area with further strengthening to 0.6305 or 0.6381.

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#NZDUSD 🇳🇿/🇺🇸

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