NZD/USD Approaching to the Sell Zone
Good morning traders, today we bring you our analysis in NZD/USD, so that you take into account the relevant areas of this pair.
🔸We observe that an important trendline was broken to the upside a few months ago.
🔸Then, after a small consolidation, the price managed to generate a great upside impulse, which has not had a retracement at the moment. A steep climb.
🔸Although we consider that there is still some distance for the movement as there are no imminent zones in the short term, we must pay attention to the next resistance zone.
🔸From the current price level, there are about 250-300 pips, which gives us plenty of time.
🔸The relevant resistance zone is at 0.74000-0.75000, which is a level that the price was unable to penetrate for three years.
🔸In case of having active bullish positions, we consider that it is an excellent level to take profits, since without a doubt there will be a strong reaction in the zone.
🔸We observe that an important trendline was broken to the upside a few months ago.
🔸Then, after a small consolidation, the price managed to generate a great upside impulse, which has not had a retracement at the moment. A steep climb.
🔸Although we consider that there is still some distance for the movement as there are no imminent zones in the short term, we must pay attention to the next resistance zone.
🔸From the current price level, there are about 250-300 pips, which gives us plenty of time.
🔸The relevant resistance zone is at 0.74000-0.75000, which is a level that the price was unable to penetrate for three years.
🔸In case of having active bullish positions, we consider that it is an excellent level to take profits, since without a doubt there will be a strong reaction in the zone.