FX.co ★ IgniteTrade | NZD/USD

NZDUSD 4-Hour Analysis: After breaking its downward trend yesterday, I think the NZD-USD currency pair will continue to rise next week. The price movement on the 4-hour chart can be represented by an uptrend line, and I'm hoping that during the coming days, the growth will reach the top of the channel. The pair can talk and descend to the lower line of this channel, which will be the top line of the rising channel, at the level of 0.57089. It should be mentioned that continued development may lead to some variation; if the value rises, the decline may be reversed, and the product will probably continue with some variation. There isn't a trading situation for NZD/USD at the moment. It is still oscillating between resistance and support, though. The price of the pair declined after Wednesday's move until it reached support. On Thursday, it strengthened, leading to yesterday's increase, which may be an indication to sell the NZD/USD pair at this time. Even if the price breaks through the higher resistance, there will probably be a bullish trend that is stronger and more optimistic than the upper resistance. We can swiftly climb somewhat here to the accumulation of 0.57289, where a price decline is probable in this scenario, namely to the area indicated above a little higher, in order to gain strength for another negative wave. You will receive a surprise, which is probably the same as in my example, if the price is this high and you are prepared to fall there. A closer examination of the most recent cast that was drawn here reveals that some new positions are being made in terms of volume; if this is the case, the price may also follow a similar pattern.