GBPNZD price line has recently been moving within a sideway range. During this neutral movement, a static support line was formed on this chart, which is indicated as a light red zone below the price line. The descending red line above the price line reflects the static resistance level, which was formed above the price line. MACD and RSI are showing potential for an ascending wave to occur shortly on the chart. Traders can keep a close eye on the chart to hunt any ascending trigger being pulled, possibly after a retest of the support zone; there they can enter long positions heading to the resistance levels below.
• There is a resistance level at 1.93000 followed by resistance at 1.93950 and 1.94570.
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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