The NZDUSD pair is showing encouraging signs of a bullish continuation, following a decisive recovery from its recent decline. After plunging to the key demand level at 0.5550, the pair staged a sharp bullish reversal, signalling a renewed buying interest in the market. Although momentum briefly waned after the initial breakout, the pair has since climbed above the 9-period Moving Average, suggesting that bullish pressure is building again.
NZDUSD Key Levels
Demand Levels: 0.5840, 0.5550
Supply Levels: 0.6360, 0.6540
NZDUSD Long-Term Trend: Bullish
NZDUSD confirmed a long-term bullish breakout above the critical 0.5860 resistance level. Trading volume increased noticeably during this move, showing stronger participation from buyers. Momentum indicators rose sharply at the same time, providing additional confirmation of the breakout’s strength.
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The upward move appeared headed toward the 0.6200 level, an area with previous price inefficiencies. However, the advance paused as a swing high formed. This coincided with a clear drop in both trading volume and momentum, suggesting a possible temporary slowdown in the bullish move.
NZDUSD Short-Term Trend: Bullish
In the short term, NZDUSD has resumed its upward move, again closing above the 9-period Moving Average after the brief consolidation. This renewed upward trajectory supports the view of a continuation towards the 0.6200 target. With favorable market sentiment and technical alignment, the best forex signals Telegram channel has identified this level as a potential near-term objective.
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NZDUSD Short-Term Trend: Bullish
NZDUSD Short-Term Trend: Bullish
