FX.co ★ Weekly breakout in NZDUSD.

In our last analysis on NZDUSD we talked about the potential of a break out and the change of the weekly trend. Price is breaking above the weekly resistance trend line from 0.73.

Blue line -resistance

The weekly candlestick of NZDUSD is breaking out of the resistance area. Price made a base around 0.69 where several weekly candles made lows. If the week manages to close above 0.70 we will have our first bullish signal after a long time.