NZD/USD Falling Wedge?

Price rallies and resumes the yesterday’s bullish candle. You can see that the price action has developed a Falling Wedge pattern, but this is far from being confirmed. NZD/USD climbed above the 50% retracement level and is almost to touch the upside line of the Falling Wedge pattern.

Only a breakout followed by a minor consolidation above the 50% Fibonacci level will validate it and a bullish momentum.

MultiBank Exchange Group
MultiBank Exchange Group
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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