Aurum Markets Blog Technical Analysis Should we expect a breakout or a rebound on NZDUSD?

Should we expect a breakout or a rebound on NZDUSD?

Should we expect a breakout or a rebound on NZDUSD? post thumbnail image

NZDUSD is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of NZDUSD could test 0.5779 within the next 3 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Supported by Upward sloping Moving Average

Target: 0.5779 Entry: 0.5733 Stop: 0.5678

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