Support & Resistance

Technical analysis of NZD/USD

NZD/USD:

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The chart shows the movement of #NZD/USD on the 4-hour (H4) chart.

Quotes reached the lower border of the resistance area of 0.5809, which is shown on the chart as two parallel lines.

This area determines the dynamics of the trend for the coming days.

However, there is a chance for a reversal towards 0.5530.

And in case of a breakdown of the upper border of the resistance area of 0.5827, the pair will rush to a new target, that is, 0.6005.

Good luck!

The material has been provided by InstaForex Company – www.instaforex.com


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