Aurum Markets Blog Technical Analysis NZDUSD breakout through resistance

NZDUSD breakout through resistance

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NZDUSD has broken through a resistance line. It has touched this line at least twice in the last 11 days. This breakout may indicate a potential move to 0.5766 within the next 2 days. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading.

Supported by Upward sloping Moving Average

Target: 0.5766 Entry: 0.5737 Stop: 0.5682

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