Lingrid | NZDUSD Potential Market Correction From Resistance

has approached a key resistance zone at 0.6040 after completing an A-B-C upward move and forming a potential lower high. Price is testing both horizontal and trendline resistance, suggesting exhaustion within the broader upward move. A failure to hold above the 0.6040 area may trigger a reversal toward the 0.5991 support zone. The structure favors a bearish pullback if the breakout is rejected.

📉 Key Levels

Sell trigger: Rejection from 0.6045
Sell zone: 0.6035–0.6045
Target: 0.5991
Invalidation: Close above 0.6055

💡 Risks

Clean breakout above resistance zone
Strengthening NZD from risk sentiment shift
Holding above upward trendline support

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!

Lingrid

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Lingrid

💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi

🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid

🌎WebSite: lingrid.org

Also on: