by Ani Mazanashvili on November 19, 2018

NZDUSD Analysis – continuous growth leads to a breakout

About two weeks ago NZDUSD triggered a buy signal. Our technical analysis suggested that the price would have a small correction after it broke the long-term downtrend line shown on the graph below in black. After the correction, we expected the price to continue increasing.

NZDUSD Analysis - continuous growth leads to a breakout

Our predictions turned out to be right. After experiencing a slight pull-back, the price started to make gains. A few days after that, there was another correction, but the price continued to rise and make new higher highs. A significant milestone was reached when the price broke a horizontal resistance shown on the graph with an orange line at 0.685. Currently, this level is tested as a new support. We maintain our bullish outlook on the price and expect more growth to occur in the nearest future.

Ani is our assistant content manager. She makes sure that all the articles we write on InsideTrade are clear, concise, and easy to understand for our visitors. Thanks to her experience in the financial markets over the last year, she also reports on interesting stories as well.