NZD/USD has escaped from the up channel’s body and has managed to stabilize above the 0.6900 psychological level validating further growth. I’ve said in a previous analysis that NZD/USD will continue its upside journey if it makes a valid breakout above the 0.69 level.
The rate has jumped above this obstacle, it has come back down to retest it and now has passed above the former high signaling more gains ahead.
- NZD/USD Trading Conclusion
Passing above the 0.6940 former high activates a buying opportunity with an immediate target at the 0.7000 psychological level. The 0.7100 level could be used as an upside target as well if the rate stays above 0.69.
The material has been provided by InstaForex Company – www.instaforex.com
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