NZDUSD – Critical Price Action Ahead! (July 23 Analysis)
As shown in the chart, NZDUSD has broken above a long-term descending trendline, followed by a pullback that successfully retested the trendline as support. This retest was backed by strong demand, preventing further decline.
However, price is now facing another descending trendline resistance, around the 0.61000 zone — a level that aligns with a previous key supply area.
🔍 If this resistance is broken on lower timeframes with a valid bullish confirmation, the next target could be 0.62000.
❗ But if the pair gets rejected at 0.61000, watch for possible support reactions at 0.59800 and 0.58700.
📈 This is a make-or-break zone for NZDUSD — stay sharp and don’t miss the next move!
👉 Follow for more clean, technical setups and real-time updates on major forex pairs.
As shown in the chart, NZDUSD has broken above a long-term descending trendline, followed by a pullback that successfully retested the trendline as support. This retest was backed by strong demand, preventing further decline.
However, price is now facing another descending trendline resistance, around the 0.61000 zone — a level that aligns with a previous key supply area.
🔍 If this resistance is broken on lower timeframes with a valid bullish confirmation, the next target could be 0.62000.
❗ But if the pair gets rejected at 0.61000, watch for possible support reactions at 0.59800 and 0.58700.
📈 This is a make-or-break zone for NZDUSD — stay sharp and don’t miss the next move!
👉 Follow for more clean, technical setups and real-time updates on major forex pairs.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.