Sat, Jan 28, 2023 @ 20:32 GMT
HomeContributorsTechnical AnalysisNZD/USD Another False Breakout?

NZD/USD Another False Breakout?

The rate rallied aggressively and retested the fifth warning line (wl5) of the ascending pitchfork, but failed to stay near this level and above the 50% retracement level. Another false breakout above the 50% retracement level will send the rate down again. However, it is still expected to retest the upper median line (uml) of the minor descending pitchfork. A larger increase will come only if the rate will make a valid breakout above the WL3.

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.

Featured Analysis

Learn Forex Trading