The GBPNZD price line has been fluctuating in a constrained band lately. On this chart, the neutral trend resulted in the formation of a static support line, which is shown as a light-green area beneath the price line. The descending red line above the price line reflects the static resistance level that formed above the line of prices. MACD and RSI on the chart suggest that an ascending wave may be about to form. Traders might keep a close eye on the chart after a potential retest of the support zone to seek for any rising trigger. They can then take long positions from there, which will carry them to the resistance levels listed below.
• There is a resistance level at 1.93000 followed by resistance at 1.94500 and 1.96000.
• There is a support level at 1.90000. Below, there is 1.89250 and 1.87600.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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