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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7305, 0.7359, 0.7455

Key Support Levels: 0.7254, 0.7191, 0.7122

Daily Chart:

The price on the higher time frame is posting higher highs and lows and managed to break the strong resistance around the 0.7254 USD mark. A lower correction has been posted to this level which is now representing a support. Further movement to the upside might be seen in the coming hours.

NZD/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the pair posted an inverse head and shoulders around the daily support (0.7254 USD), and now it is trading above its neckline. We expect a rally once the buyers take control, all the way to our target profit.

Signal Idea:

Buy Limit Order @ 0.7276

TP 1 @ 0.7305

TP 2 @ 0.7359

Stop Loss @ 0.7261

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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