Wed, Apr 14, 2021 @ 07:10 GMT
Home Contributors Technical Analysis NZD/USD Breakout Could Occur

NZD/USD Breakout Could Occur

The New Zealand Dollar has surged by 84 pips or 1.15% against the US Dollar since yesterday’s trading session. The currency pair tested the upper line of an ascending channel pattern during the London session on Wednesday.

Given that the exchange rate is currently trading near the upper border of the channel pattern, a breakout could occur within this session.

If the breakout occurs, a surge towards the 0.7450 level could be expected during the following trading session.

However, if the channel pattern holds, bears could pressure the currency exchange rate lower today.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading

How to Develop a Trading Plan

A Trade or a Gamble?