FX.co ★ NZD/USD Up Reversal In Play!

NZD/USD has finally managed to jump above the major downtrend line signaling a reversal, an upside movement in the upcoming period. The price has tested the broken downtrend line confirming the breakout, now is trading above the 0.6637 former resistance, obstacle, so all the signs are bullish on the Daily chart.

The next target is seen at the 0.6731 level, you can see that NZD/USD has decreased from this level in the past. Still, a valid breakout, a jump above the 0.6731 level will validate a broader upside movement, uptrend.

• NZD/USD Trading Tips

NZD/USD will be expected to climb higher, to increase, as long as it is trading above the uptrend line. The valid breakout (pass above and retest) above the 0.6637 has signaled an increase at least till the 0.6731 level.

If NZD/USD makes another top, peak high, if it jumps above the 0.6731 level, we may have a great buying opportunity as this scenario will suggest a potential rally, growth, towards the 0.6929 level.