Cabana Capitals Blog Technical Analysis Possible start of a bullish trend as NZDUSD breaks resistance

Possible start of a bullish trend as NZDUSD breaks resistance

Possible start of a bullish trend as NZDUSD breaks resistance post thumbnail image

NZDUSD has broken through 0.5914 which it has tested numerous times in the past. We have seen it retrace from this price in the past. If this new trend persists, NZDUSD may be heading towards 0.5958 within the next 2 days.

Supported by Upward sloping Moving Average

Target: 0.5958 Entry: 0.5921 Stop: 0.5894

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