NZDUSD price line has been moving within a bullish channel since middle October 2022.The channel has submitted several reactions to its mid, bottom and top line, yet the price line was not able to break out of this channel; and therefore it is considered a valid bullish channel. RSI has currently broken above 50, showing ascending potential on the chart. MACD histograms are turning light red and MACD line and Signal line are tending to have a cross over. The green area on the chart indicates a strong support level which is expected to pump the price as it contains a big deal of demand. Traders can be expecting to see the price line, touch the mentioned demand zone; there they can enter long positions heading to the resistance levels, mentioned below.
• There is a resistance level at 0.62450 followed by resistance at 0.62860 and 0.63410.
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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