FX.co - NZD/USD update for June 30, 2022 - Breakout of the trendline in the background

2022-06-30T11:23:31

Relevance until2022-07-01

Technical analysis:

NZD/USD update for June 30, 2022 - Breakout of the trendline in the background

NZDUSD has been trading upside this morning and there is the breakout of the sideways base, which is good sign for further rally.

Trading recommendation:

Due to the breakout of the resistance trend-line I see potential for the bigger rally.

Watch for buying opportunities on the intraday dips with the upside objectives at the price of 0.6250 and 0.6280.

Stochastic oscillator is showing oversold condition and there is potential for the rally.

Key support is set at the price of 0.6192

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ NZD/USD update for June 30, 2022 - Breakout of the trendline in the background