FX.co ★ NZDUSD potential for rise to recent swing high resistance

Price has just broken a overlap support which is now our buy entry at 0.6429. It could potentially rise to 0.6516 which is a recent swing high resistance from 13th December 2022.

It is worth noting that there is an ascending support line and a bullish ichimoku cloud that is providing the bullish momentum to this trade.

Entry: 0.6429

Reason for Entry: Overlap support + bullish momentum from trend line and IKH

Take Profit: 0.6516

Reason for Take Profit:

Recent swing high resistance

Stop Loss: 0.6354

Reason for Stop Loss:

Overlap support