FBS Markets Inc.
Open account Log in

NZD/USD: entering the six-year resistance zone

Read the article on FBS website

NZD/USD is in a historically spectacular episode. Currently, it trades above 0.7260. In doing so, it’s testing the last highs of February. Also, it’s in the highest zone since January. Above, it has the resistance zone of 0.7270 – 0.7300.

21.png

Therefore, we have two conclusions:

  1. The resistance zone 0.7270 – 0.7300 may send NZD/USD into a bearish reversal similar to how it did in December-January.
  2. If NZD/USD crosses that zone, it will be aiming at 0.75 – the high of 2017 and the six-year high at the same time.
  3. On the weekly chart, the bullish rally to 0.73 has been notably aggressive. Therefore, corrections to 0.70 or 0.68 should not be discarded as possible scenarios.

22.png

                                                                                           LOG IN

FBS Analyst Team

FBS Analyst Team

Share with friends:

Similar

Latest news

Instant opening

The website is operated by FBS Markets Inc.; Registration No. 000001317; FBS Markets Inc. is registered by the Financial Services Commission under the Securities Industry Act 2021, license number 000102/31. Office Address: 9725, Fabers Road Extension, Unit 1, Belize City, Belize.

FBS Markets Inc. does not offer financial services to residents of certain jurisdictions, including, but not limited to: the USA, the EU, the UK, Israel, the Islamic Republic of Iran, Myanmar.


Payment transactions are managed by НDС Technologies Ltd.; Registration No. HE 370778; Legal address: Arch. Makariou III & Vyronos, P. Lordos Center, Block B, Office 203, Limassol, Cyprus. Additional address: Office 267, Irene Court, Corner Rigenas and 28th October street, Agia Triada, 3035, Limassol, Cyprus.


Contact number: +357 22 010970; additional number: +501 611 0594.

For cooperation, please contact us via support@fbs.com.


Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.

Any copying, reproduction, republication, as well as on the Internet resources of any materials from this website is possible only upon written permission.


The information on this website does not constitute investment advice, a recommendation, or a solicitation to engage in any investment activity.