NZD/USD has increased within an up channel and now it has managed to jump above the pattern’s upside line signaling more gains, further growth. Still, we need confirmation before going long on this pair.
The pair has registered another higher high after the aggressive breakout above the 0.6790 level, so the upside outlook remains intact as long NZD/USD stays above the broken static resistance level.
- NZD/USD Trading Tips
Passing and stabilizing above 0.6900 psychological level signals further growth. So, such a breakout brings us a great buying opportunity with a first upside target at the 0.7000 psychological level.
Only a drop under 0.6790 will invalidate the upside (bullish) scenario and could give us a chance to sell NZD/USD.
The material has been provided by InstaForex Company – www.instaforex.com
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