NZDUSD

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/ .

NZDUSD H4 chart 24 February 2021
NZDUSD H4 chart 24 February 2021

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.

NZDUSD Daily chart 24 February 2021
NZDUSD Daily chart 24 February 2021

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.

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets

Follow Us

Leave a Reply

Your email address will not be published. Required fields are marked *