FX.co ★ osenger | NZD/USD

NZD/USD, technical analysis. On the weekly timeframe W, it is clearly visible that the bulls, pulling the price to the resistance of the trend line, are testing it with the desire to break through. This action by the bulls will show whether the global trend will ultimately be broken, and the bulls will be able to move the price to the right side of it. Or everything will remain as it was, and the current rise will end at the trend line. Based on this behavior of the bulls, I will plan my purchases of the kiwi using the trend line as an inclined support. Aggressive buying is interesting on a breakout setup after the price is fixed on the right side of the trend line, using trend indicators for a more precise market entry. A more conservative entry into a long position is to wait for a breakout of the 61 figure resistance level, and only then make purchases from it. In summary: I am waiting for the market's reaction to the retest of the trend line and making a trading decision to buy.