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 moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If NZDUSD continues in its current trajectory, we could see it reach 0.5904 within the next 21 hours.

Supported by Downward sloping Moving Average

Target: 0.5904 Entry: 0.5921 Stop: 0.5939

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