NZDUSD → A break of the triangle resistance will form an impulse

12 lug 2023

NZDUSD is forming an attempt to change the downtrend on the background of weakening of the dollar. A resistance retest is being formed. What to expect from the price further?

The price left the channel last week, all this time a consolidation in the format of an ascending triangle is being formed. The price continues to test the triangle resistance and 0.62359 for a breakout as we see a weakening dollar, consolidation after the resistance breakout and several other indications that the price is preparing to continue rising.
A false break of resistance could form a pullback to nearby support, but based on the potential, price could continue to head towards resistance.

Support levels: 0.61911
Resistance levels: 0.62200, 0.62359
I expect a pullback from resistance and another retest on the background of an attempt to change the trend. If resistance is broken, our target will be 0.63000 and 0.63810.

Regards R. Linda!

13 lug 2023

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