The price line on NZDUSD price chart started ascending on 23rd of January 2023; as a result of this up trend, the price line on this currency pair ascended about 5.37% until January 24th. The price is now almost touching a strong resistance level, indicated as an orange box above the price line. The red ascending line on the chart indicates the trend line which has formed the current bullish wave. Traders could expect a down break after which the price line would have a retest of the orange zone; there they can enter short positions heading to the support levels mentioned below.
• There is a resistance level at 0.65150 followed by resistance at 0.65500 and 0.65800
• There is a support level at 0.63365. Below, there is 0.63110 and 0.62185.
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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