FX.co ★ NZD/USD upsde reversal?

NZD/USD breakout was confirmed

The NZD/USD pair registered a strong growth after retesting the broken downtrend line. Technically, when the price registers a breakout through a trend line, it could come back to retest it before moving in the breakout direction.

It's traded at 0.6814 level below 0.6832 former high which is seen as an upside obstacle. Passing above this level may signal strong buyers and potential upside continuation.

NZD/USD trading conclusion

Jumping above 0.6832 and 0.6850 could validate an upside reversal, potential larger growth in the upcoming period. On the other hand, staying below 0.6832 may signal a new downside movement.