FX.co ★ NZD/USD Upside Reversal Signaled!

NZD/USD increases and is expected to resume its growth after jumping above 0.7002 immediate high, former high. As you already know from my analysis, I was expecting NZD/USD to increase after jumping above the downtrend line.

Jumping above 0.7002 confirmed strong buyers and activated a swing higher. Techncially, the price failed to make new lower low signaling an oversold situation.

Forecast!

The current breakout above the 0.7002 confirmed an important growth, the 0.7092 and the 0.7100 psychological levels are seen as potential upside targets.