Ready for the next bullish step?
NZD is gaining power against USD once more. Ichimuko cloud is above the price and MA 100 got broken from above by the price line. RSI broke 50 and is now on 58. No important news is gonna be published about NZD for the next few days and the price is expected to continue on bullish trend.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support level at 0.699 pumped the price up and was not broken. the resistance at around 0.708 is the most important resistance around and the price is expected to react to this level. A retest of 0.699 is possible. In case the price breaks above 0.71 , a big growth can be expected and long positions are recommended towards 0.73. On the other hand, if the price breaks the support at 0.699, a huge dump would be expected towards 0.695 or less. For sellers 0.695 – 0.689 and 0.681 would be good TP points. For buyers, 0.711, 0.715 and 0.73 are recommended for TP
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.