Aurum Markets Blog Technical Analysis Possible start of a bullish trend as NZDUSD breaks resistance

Possible start of a bullish trend as NZDUSD breaks resistance

Possible start of a bullish trend as NZDUSD breaks resistance post thumbnail image

NZDUSD is once again retesting a key horizontal resistance level at 0.5672. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

Supported by Upward sloping Moving Average

Target: 0.5743 Entry: 0.5691 Stop: 0.5644

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