The NZDUSD breaks past its 2020 higher high and now forms a new level at 0.73853. We lastly spoke about the pair when it was ranging within support level 0.69999 and resistance level 0.72894. The link below is a review of the previous. https://fxsits.com/the-nzdusd-hit-its-higher-high-what-does-this-mean-for-buyers/ .
The pair is set for another bullish move after a long term consolidation .On both the daily and the H4 time frame. We see how price has broken the resistance level 0.72894 .Thus now forms a new high at level 0.73853 after ranging for long , within the major support and resistance level.
Our analysts predict that price could move above the previous higher high in the up coming market session. However, if we see price trade towards the previous resistance level . Which acts as our support and manages to break bearish then we could see other major support levels being exposed.
Because the NZDUSD breaks past its higher high. We still believe a long term bullish trend for the pair is imminent . See all the attached charts for proper understanding of your price action follow up.
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