NZDUSD :RESISTANCE HIT 0.6250 & Correction Downside 200-300 Pips
The outlook is Limited bullish as the price has escaped from the Support level 0.6180. The failure to retest the Support 0.6140 has signalled a bullish momentum, the aggressive breakout above the 0.6220 level has suggested buying in the short term, the next target is seen at the R1 (0.6253) level and R2 0.6360.
We could have another long opportunity if NZD/USD closes and stabilizes above the 0.6157 - 0.6174 area if it makes another higher higH towards the R2 (0.6350) level. Another short opportunity could appear if NZD/USD decreases and closes below the 0.6080 previous low. A false breakout with a huge separation above the 0.6140 - 0.6210 area will bring a short opportunity as well.
Another side USA and CHINA tension Rise could bring a short opportunity From Resistance 0.6150.
🛑SUPPORT/RESISTANCE
✅S1= 0.6180
✅S2=0.6090
✴️R1=0.6250
✴️R2=0.6350
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We could have another long opportunity if NZD/USD closes and stabilizes above the 0.6157 - 0.6174 area if it makes another higher higH towards the R2 (0.6350) level. Another short opportunity could appear if NZD/USD decreases and closes below the 0.6080 previous low. A false breakout with a huge separation above the 0.6140 - 0.6210 area will bring a short opportunity as well.
Another side USA and CHINA tension Rise could bring a short opportunity From Resistance 0.6150.
🛑SUPPORT/RESISTANCE
✅S1= 0.6180
✅S2=0.6090
✴️R1=0.6250
✴️R2=0.6350
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.