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 support line of a Falling Wedge. If this movement continues, the price of NZDUSD could test 0.5674 within the next 11 hours. 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 Downward sloping Moving Average

Target: 0.5674 Entry: 0.5696 Stop: 0.5715

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