NZDUSD Experiences Successful Bullish Breakout
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NZDUSD Experiences Successful Bullish Breakout

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Market Analysis – October 1

NZDUSD has experienced a decisive breakout above a key resistance trendline on the daily chart, signaling strong upward momentum. This breakout positions the pair to challenge new yearly highs, surpassing the previous peak of 0.63700.

NZDUSD Key Levels

Demand Levels: 0.63000, 0.61700, 0.58750
Supply Levels:  0.63700, 0.65100, 0.66000

NZDUSD Experiences Successful Bullish BreakoutNZDUSD Long-Term Trend: Bullish

NZDUSD is currently thriving along a robust uptrend, with a well-established support and resistance structure on the daily chart. The trendlines, formed by connecting three major highs and lows, highlight the bullish price action. The recent test of the supporting trendline in August sparked the ongoing uptrend, pushing prices beyond the 0.62400 swing high—confirming the bullish bias.

A temporary resistance at the 0.52990 level triggered a pullback, but the Smoothed Heikin Ashi candles remained green, indicating consistent bullish sentiment despite the retracement. Following this, the price surged past the resistance trendline, solidifying the breakout.

OANDA:NZDUSD Chart Image by Nice11111NZDUSD Short-Term Trend: Bullish

On lower timeframes, the Smoothed Heikin Ashi candles continue to signal bullish momentum. While a bullish order block initially failed at the resistance trendline, the market quickly recovered, restoring its upward structure. The price now targets the swing high of 0.65060, offering a promising opportunity through the best forex signals telegram channels, particularly for those following NZDUSD setups. This bullish continuation presents strong potential for further upside, with 0.65060 acting as a key target in the near term.

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