HomeContributorsTechnical AnalysisNZD/USD Poised For More Gains

NZD/USD Poised For More Gains

Price rallied after the retest of the 38.2% retracement level and now is trying to take out the dynamic resistance from the fourth warning line (wl4). Will climb much higher if will stabilize above the warning line, but I want to remind you that failure will signal a major drop. Has found strong support at the red downtrend line and now is fighting hard to recover. We had a false breakdown below the 38.2% retracement level, meaning that an increase towards the 23.6% is favored. Technically, is expected to retest also the third warning line (WL3) before will make the next significant move.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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