NZDUSD Price Forecast – Bullish Breakout in Play!
NZDUSD has formed a double bottom chart pattern at the bottom of the downtrend, signaling a potential reversal. The price initially broke out of the trendline and 200EMA with strong bullish momentum, but retraced back. Now, it’s attempting another breakout, which could lead to a strong bullish move.
Key Technical Insights:
Double Bottom Formation – A strong reversal pattern.
Breakout of Trendline & 200EMA – Bullish confirmation.
Retracement Completed – Possible entry point.
Retesting Breakout Zone – A successful breakout will confirm an uptrend.
Technical Target Levels:
1st Target: 0.5760
2nd Target: 0.5880
Final Target: 0.5930
Final Thoughts:
If NZDUSD successfully breaks above the resistance zone, it may continue its bullish momentum toward higher levels. Watch for price action confirmation before entering!
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(This analysis is for learning purposes only, not financial advice.)