Signals on the main pairs: the pair NZD/USD emerged from a downtrend - Ester Holdings
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Signals on the main pairs: the pair NZD/USD emerged from a downtrend

The NZD/USD pair, against the backdrop of the general growth in demand for commodity currencies, managed to overcome the significant resistance of 0.7250-60, which corresponds to the upper boundary of the downward channel from Wednesday February this year. It indicates the possibility of a longer growth after fixing above the resistance of 0.7300-20. After that, one should expect the development of the “double bottom” figure on the timeframe H4.

Fig.  NZD/USD H4

At a smaller timeframe, this pair remains in a noticeable overbought, and the correction is limited to the current situation on the market. In this case, a return to the downtrend and consolidation below the support levels: 0.7270 and 0.7250 will cancel expectations for the development of the figure and indicate the resumption of the downtrend.

Fig. NZD/USD. The current price is 0.7290.

Hanzenko Anton


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